659,913 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 659,913 shares of the wireless technology company's stock, valued at approximately $101,376,000. Brandywine Global Investment Management LLC owned 0.06% of QUALCOMM at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. State Street Corp grew its stake in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC increased its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Finally, Amundi boosted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QCOM traded up $1.35 on Wednesday, reaching $154.40. The company had a trading volume of 1,993,329 shares, compared to its average volume of 8,575,919. QUALCOMM Incorporated has a 52-week low of $147.88 and a 52-week high of $230.63. The company has a market cap of $170.77 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business has a 50 day simple moving average of $163.66 and a 200 day simple moving average of $163.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. 0.08% of the stock is owned by corporate insiders.

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.