E Fund Management Co. Ltd. Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

E Fund Management Co. Ltd. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 30,455 shares of the wireless technology company’s stock after selling 2,623 shares during the period. E Fund Management Co. Ltd.’s holdings in QUALCOMM were worth $6,066,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QCOM. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM during the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after purchasing an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of QUALCOMM during the first quarter worth about $238,770,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.3 %

Shares of QCOM opened at $168.70 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The stock has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28. The stock has a 50 day moving average price of $174.52 and a 200 day moving average price of $182.15.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 8 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, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on QCOM. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Barclays lifted their target price on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company boosted their price target on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a report on Thursday, August 1st. Finally, Susquehanna boosted their price target on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

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.