QUALCOMM Incorporated $QCOM Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 32.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,654 shares of the wireless technology company’s stock after selling 2,202 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in QUALCOMM were worth $741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Kingstone Capital Partners Texas LLC increased its stake in shares of QUALCOMM by 656,661.0% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after purchasing an additional 58,764,593 shares in the last quarter. Nuveen LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at about $529,713,000. Goldman Sachs Group Inc. increased its stake in shares of QUALCOMM by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after purchasing an additional 1,407,797 shares in the last quarter. Deutsche Bank AG increased its stake in shares of QUALCOMM by 11.2% in the 1st quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock valued at $1,331,170,000 after purchasing an additional 875,412 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of QUALCOMM by 84.6% in the 1st quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company’s stock valued at $230,444,000 after purchasing an additional 707,615 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. Susquehanna lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Piper Sandler cut their price target on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th. Mizuho cut their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, July 31st. Finally, UBS Group set a $165.00 price objective on QUALCOMM in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.95.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 791 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the transaction, the chief accounting officer directly owned 1,106 shares in the company, valued at $171,230.92. The trade was a 41.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 168,102 shares of company stock worth $27,706,855. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $181.03 on Wednesday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $205.95. The stock has a 50 day moving average of $164.47 and a two-hundred day moving average of $155.83. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The firm has a market cap of $195.33 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.72 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is currently 34.33%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.