The Manufacturers Life Insurance Company Has $172.96 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

The Manufacturers Life Insurance Company lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 868,376 shares of the wireless technology company’s stock after selling 68,103 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of QUALCOMM worth $172,963,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in QCOM. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the first quarter worth approximately $1,171,516,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of QUALCOMM by 1,778.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp raised its holdings in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC acquired a new position in QUALCOMM during the 1st quarter worth $238,770,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Insiders have sold 19,000 shares of company stock valued at $3,496,590 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Down 1.5 %

QCOM stock opened at $170.13 on Friday. The business has a fifty day moving average price of $169.66 and a 200 day moving average price of $181.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The stock has a market capitalization of $189.87 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s payout ratio is 45.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QCOM shares. Susquehanna lifted their price objective on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Rosenblatt Securities upped their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America raised their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Cantor Fitzgerald reiterated a “neutral” rating and set a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. Finally, Hsbc Global Res downgraded shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $211.67.

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.