Loomis Sayles & Co. L P Sells 200,312 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Loomis Sayles & Co. L P decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,741,120 shares of the wireless technology company’s stock after selling 200,312 shares during the quarter. QUALCOMM comprises about 95.3% of Loomis Sayles & Co. L P’s investment portfolio, making the stock its 20th biggest holding. Loomis Sayles & Co. L P’s holdings in QUALCOMM were worth $881,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $29,000. CoreFirst Bank & Trust bought a new stake in QUALCOMM during the fourth quarter worth approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the business’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 directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of QCOM stock opened at $158.39 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $175.18 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.01 and a beta of 1.28. The stock’s 50-day simple moving average is $164.47 and its 200-day simple moving average is $163.92.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is presently 36.32%.

QUALCOMM 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.