Ensign Peak Advisors Inc Sells 122,727 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ensign Peak Advisors Inc lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,899 shares of the wireless technology company’s stock after selling 122,727 shares during the quarter. Ensign Peak Advisors Inc owned 0.06% of QUALCOMM worth $97,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. Geode Capital Management LLC lifted its position in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Loop Capital lowered their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $192.08.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock worth $5,733,290 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $145.30 on Friday. The stock has a market cap of $159.54 billion, a PE ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $146.38 and its two-hundred day simple moving average is $157.55. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

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.