Mesirow Financial Investment Management Inc. Decreases Stake in QUALCOMM Incorporated $QCOM

Mesirow Financial Investment Management Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,473 shares of the wireless technology company’s stock after selling 567 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in QUALCOMM were worth $1,509,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in QCOM. Kingstone Capital Partners Texas LLC lifted its position in shares of 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 worth $9,360,274,000 after buying an additional 58,764,593 shares in the last quarter. Nuveen LLC purchased a new stake in shares of QUALCOMM in the first quarter worth about $529,713,000. Goldman Sachs Group Inc. lifted its position in shares of 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 worth $1,114,403,000 after buying an additional 1,407,797 shares in the last quarter. Deutsche Bank AG raised its position in QUALCOMM by 11.2% during 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 purchasing an additional 875,412 shares during the period. Finally, AQR Capital Management LLC raised its position in QUALCOMM by 84.6% during 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 purchasing an additional 707,615 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 8,335 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the sale, the chief financial officer directly owned 36,541 shares of the company’s stock, valued at approximately $6,067,998.46. This trade represents a 18.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 150,000 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $165.56, for a total value of $24,834,000.00. Following the completion of the transaction, the chief executive officer directly owned 149,304 shares in the company, valued at approximately $24,718,770.24. This trade represents a 50.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 166,502 shares of company stock valued at $27,472,615 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their price objective on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, July 31st. Mizuho decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. UBS Group set a $165.00 price objective on QUALCOMM in a research report on Monday. Arete Research set a $200.00 price objective on QUALCOMM in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.95.

QUALCOMM Price Performance

Shares of QCOM stock opened at $180.90 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $205.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market capitalization of $195.19 billion, a P/E ratio of 17.44, a P/E/G ratio of 2.59 and a beta of 1.23. The stock has a 50 day moving average price of $165.85 and a 200 day moving average price of $156.54.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. QUALCOMM’s dividend payout ratio (DPR) is currently 34.33%.

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.