Mackenzie Financial Corp Sells 18,749 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mackenzie Financial Corp lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 528,717 shares of the wireless technology company’s stock after selling 18,749 shares during the period. Mackenzie Financial Corp’s holdings in QUALCOMM were worth $105,310,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in QCOM. City Holding Co. boosted its holdings in QUALCOMM by 3.5% during the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares during the period. Federated Hermes Inc. grew its holdings in shares of QUALCOMM by 173.3% in the second quarter. Federated Hermes Inc. now owns 842,357 shares of the wireless technology company’s stock worth $167,781,000 after purchasing an additional 534,176 shares during the last quarter. BNP Paribas purchased a new position in shares of QUALCOMM in the first quarter worth $3,104,000. SWP Financial LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $593,000. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in QUALCOMM by 94.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 988,683 shares of the wireless technology company’s stock worth $196,807,000 after acquiring an additional 479,722 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, August 2nd. Rosenblatt Securities increased their price objective on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Westpark Capital reissued a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Hsbc Global Res lowered QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.67.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $170.13 on Friday. The stock has a 50-day moving average price of $169.66 and a 200 day moving average price of $181.99. The stock has a market capitalization of $189.87 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s payout ratio is 45.70%.

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.