Mn Services Vermogensbeheer B.V. Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Mn Services Vermogensbeheer B.V. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 412,100 shares of the wireless technology company’s stock after selling 29,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in QUALCOMM were worth $63,303,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. WFA Asset Management Corp purchased a new position in QUALCOMM in the 1st quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $29,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $154.72 on Friday. The stock’s fifty day moving average is $145.85 and its two-hundred day moving average is $155.15. The company has a market capitalization of $169.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 EPS. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research analyst reports. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $189.88.

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.