Auto Owners Insurance Co Has $1.25 Million Holdings in QUALCOMM Incorporated $QCOM

Auto Owners Insurance Co lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 97.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,839 shares of the wireless technology company’s stock after selling 296,080 shares during the period. Auto Owners Insurance Co’s holdings in QUALCOMM were worth $1,248,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of QCOM. Kingstone Capital Partners Texas LLC lifted its holdings in QUALCOMM by 656,661.0% in the second quarter. Kingstone Capital Partners Texas LLC now owns 58,773,542 shares of the wireless technology company’s stock valued at $9,360,274,000 after buying an additional 58,764,593 shares during the period. Nuveen LLC acquired a new position in QUALCOMM in the first quarter valued at $529,713,000. Goldman Sachs Group Inc. lifted its holdings in QUALCOMM by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after buying an additional 1,407,797 shares during the period. Deutsche Bank AG lifted its holdings in QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock valued at $1,331,170,000 after buying an additional 875,412 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in QUALCOMM by 84.6% in the first quarter. AQR Capital Management LLC now owns 1,544,011 shares of the wireless technology company’s stock valued at $230,444,000 after buying an additional 707,615 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company’s stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total transaction of $24,834,000.00. Following the sale, the chief executive officer directly owned 149,304 shares of the company’s stock, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 168,102 shares of company stock valued at $27,706,855 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent analyst reports. Mizuho dropped their target price on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Thursday, July 31st. Wall Street Zen lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Arete raised shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Trading Down 3.5%

NASDAQ:QCOM opened at $181.03 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The firm has a 50-day moving average of $164.47 and a 200-day moving average of $155.83. The company has a market cap of $195.33 billion, a PE ratio of 17.46, a PEG ratio of 2.72 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $205.95.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.0%. QUALCOMM’s payout ratio is presently 34.33%.

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.