Robeco Institutional Asset Management B.V. Sells 138,870 Shares of QUALCOMM, Inc. (NASDAQ:QCOM)

Robeco Institutional Asset Management B.V. lowered its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 24.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 428,501 shares of the wireless technology company’s stock after selling 138,870 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in QUALCOMM were worth $32,597,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Weaver Consulting Group bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $25,000. Farmers National Bank bought a new stake in QUALCOMM during the 1st quarter valued at $26,000. Meridian Wealth Management LLC bought a new stake in QUALCOMM during the 1st quarter valued at $26,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of QUALCOMM in the first quarter worth $29,000. Finally, Field & Main Bank purchased a new position in QUALCOMM in the first quarter worth $32,000. Institutional investors and hedge funds own 76.16% of the company’s stock.

In related news, EVP Michelle M. Sterling sold 5,560 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.44, for a total value of $480,606.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 20,862 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,931 shares of company stock valued at $5,334,769. 0.11% of the stock is currently owned by company insiders.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of QUALCOMM from $88.00 to $96.00 and gave the stock a “positive” rating in a research report on Thursday, May 2nd. Sanford C. Bernstein set a $60.00 target price on shares of QUALCOMM and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Goldman Sachs Group assumed coverage on shares of QUALCOMM in a research report on Thursday, May 23rd. They issued a “neutral” rating and a $73.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $84.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. Finally, Macquarie set a $90.00 target price on shares of QUALCOMM and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $79.93.

Shares of QUALCOMM stock traded down $0.41 during trading on Friday, reaching $70.79. 298,283 shares of the stock were exchanged, compared to its average volume of 10,154,721. The company has a current ratio of 1.55, a quick ratio of 1.39 and a debt-to-equity ratio of 3.98. The stock’s fifty day moving average is $74.42. The firm has a market cap of $90.95 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.61 and a beta of 1.63. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.12 billion. QUALCOMM had a net margin of 11.57% and a return on equity of 56.69%. QUALCOMM’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, analysts predict that QUALCOMM, Inc. will post 3.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.50%. QUALCOMM’s dividend payout ratio is currently 77.74%.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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