MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 71,593 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,257 shares of the wireless technology company’s stock after selling 71,593 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in QUALCOMM were worth $29,542,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rheos Capital Works Inc. grew its stake in QUALCOMM by 36.8% in the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after purchasing an additional 42,500 shares in the last quarter. HF Advisory Group LLC purchased a new stake in QUALCOMM during the third quarter worth $629,000. DnB Asset Management AS lifted its holdings in QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares during the period. Sather Financial Group Inc lifted its holdings in QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after buying an additional 18,090 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its holdings in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after buying an additional 7,682 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,360 shares of company stock valued at $5,457,048. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock traded up $0.17 during midday trading on Friday, reaching $169.30. The stock had a trading volume of 5,323,975 shares, compared to its average volume of 8,895,906. The stock has a market cap of $188.94 billion, a PE ratio of 24.54, a P/E/G ratio of 2.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a fifty day simple moving average of $158.12 and a two-hundred day simple moving average of $136.11. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is currently 46.38%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QCOM. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $119.00 to $132.00 in a report on Friday, December 8th. Finally, Piper Sandler increased their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

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.