Analyst IMS Investment Management Services Ltd. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Analyst IMS Investment Management Services Ltd. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 58.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,416 shares of the wireless technology company's stock after buying an additional 4,600 shares during the quarter. Analyst IMS Investment Management Services Ltd.'s holdings in QUALCOMM were worth $1,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi grew its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in QUALCOMM during the 4th quarter worth about $527,053,000. Pacer Advisors Inc. lifted its holdings in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock worth $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Remove Ads

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM 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 sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 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.

QUALCOMM Trading Down 0.2 %

QCOM traded down $0.32 during trading on Monday, hitting $156.26. 1,500,498 shares of the stock were exchanged, compared to its average volume of 8,221,652. The firm has a 50 day simple moving average of $164.68 and a 200 day simple moving average of $164.40. The firm has a market cap of $172.82 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.18%. QUALCOMM's payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a report on Wednesday, November 20th. Finally, Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Company 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.