QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,892 shares of the wireless technology company’s stock after selling 66 shares during the quarter. Cullen Investment Group LTD.’s holdings in QUALCOMM were worth $1,852,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in QCOM. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Legal & General Group Plc raised its holdings in QUALCOMM by 0.9% during the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares during the last quarter. Matrix Capital Management Company LP purchased a new stake in QUALCOMM during the first quarter worth $1,171,516,000. Putnam Investments LLC grew its holdings in QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on QCOM shares. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald restated a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. Robert W. Baird increased their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Trading Down 0.0 %

Shares of QUALCOMM stock traded down $0.02 during trading hours on Friday, reaching $168.90. The stock had a trading volume of 6,588,668 shares, compared to its average volume of 9,162,244. 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 Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a market capitalization of $188.49 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.86 and a beta of 1.28. The firm has a 50 day simple moving average of $168.00 and a two-hundred day simple moving average of $181.97.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share 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 firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. QUALCOMM’s payout ratio is currently 45.70%.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total transaction of $539,156.75. Following the sale, the insider now owns 32,231 shares of the company’s stock, valued at $5,355,180.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total transaction of $539,156.75. Following the completion of the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,245 shares of company stock valued at $3,679,407. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

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.