Marco Investment Management LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Marco Investment Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 195,944 shares of the wireless technology company’s stock after selling 2,241 shares during the period. QUALCOMM comprises approximately 2.8% of Marco Investment Management LLC’s holdings, making the stock its 6th largest holding. Marco Investment Management LLC’s holdings in QUALCOMM were worth $30,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Brighton Jones LLC boosted its position in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after purchasing an additional 340 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of QUALCOMM by 3.1% in the 4th quarter. Clearbridge Investments LLC now owns 177,954 shares of the wireless technology company’s stock worth $27,337,000 after purchasing an additional 5,348 shares during the last quarter. FSB Premier Wealth Management Inc. boosted its position in shares of QUALCOMM by 13.1% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 3,839 shares of the wireless technology company’s stock worth $590,000 after purchasing an additional 444 shares during the last quarter. Finally, AIA Group Ltd boosted its position in shares of QUALCOMM by 27.8% in the 4th quarter. AIA Group Ltd now owns 25,400 shares of the wireless technology company’s stock worth $3,902,000 after purchasing an additional 5,520 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company’s stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $161.05 on Tuesday. The company has a market capitalization of $176.83 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 2.04 and a beta of 1.26. The business’s 50-day moving average price is $154.74 and its two-hundred day moving average price is $155.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.64.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 EPS. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s payout ratio is 36.25%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. Citigroup restated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Benchmark dropped their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Bank of America dropped their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Finally, TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $183.95.

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.