Wellington Management Group LLP Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wellington Management Group LLP decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,567,386 shares of the wireless technology company’s stock after selling 1,095,335 shares during the period. Wellington Management Group LLP owned about 0.87% of QUALCOMM worth $1,469,742,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of QCOM. Nordea Investment Management AB raised its holdings in shares of QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $2,058,000. Burney Co. boosted its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $240,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $152.72 on Monday. The company’s fifty day moving average price is $164.16 and its 200-day moving average price is $163.82. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $168.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QCOM. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.