Principal Financial Group Inc. Has $267.97 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Principal Financial Group Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,345,383 shares of the wireless technology company’s stock after selling 86,425 shares during the period. Principal Financial Group Inc.’s holdings in QUALCOMM were worth $267,973,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in QUALCOMM during the 4th quarter worth approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of QUALCOMM by 8.1% during the 4th 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 acquiring an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp increased its position in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC bought a new position in shares of QUALCOMM during the first quarter worth about $238,770,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 3.4 %

Shares of NASDAQ QCOM traded up $5.81 during mid-day trading on Friday, reaching $175.30. 11,109,168 shares of the company were exchanged, compared to its average volume of 9,294,073. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a 50-day moving average of $184.07 and a 200 day moving average of $180.77. The stock has a market cap of $195.63 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 1.89 and a beta of 1.27. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. On average, research analysts expect that QUALCOMM Incorporated will post 7.98 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

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 transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s 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 completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold a total of 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on QCOM shares. Mizuho lifted their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, July 17th. Argus raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Barclays upped their price target on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $210.63.

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.