Impax Asset Management Group plc Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Impax Asset Management Group plc cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,049 shares of the wireless technology company’s stock after selling 137 shares during the quarter. Impax Asset Management Group plc’s holdings in QUALCOMM were worth $1,697,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GHE LLC lifted its position in QUALCOMM by 1.3% in the 4th quarter. GHE LLC now owns 22,396 shares of the wireless technology company’s stock valued at $3,808,000 after acquiring an additional 293 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in QUALCOMM by 0.4% in the 4th quarter. Crestwood Advisors Group LLC now owns 296,323 shares of the wireless technology company’s stock valued at $45,521,000 after acquiring an additional 1,309 shares in the last quarter. IFP Advisors Inc lifted its position in QUALCOMM by 54.1% in the 4th quarter. IFP Advisors Inc now owns 20,885 shares of the wireless technology company’s stock valued at $3,209,000 after acquiring an additional 7,332 shares in the last quarter. Waverton Investment Management Ltd lifted its position in QUALCOMM by 6.4% in the 4th quarter. Waverton Investment Management Ltd now owns 1,538,809 shares of the wireless technology company’s stock valued at $236,430,000 after acquiring an additional 92,276 shares in the last quarter. Finally, B&D White Capital Company LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $522,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock worth $7,713,734 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1 %

NASDAQ:QCOM opened at $161.22 on Wednesday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm has a fifty day simple moving average of $164.59 and a 200-day simple moving average of $165.79. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.