Clearbridge Investments LLC Has $27.34 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Clearbridge Investments LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,954 shares of the wireless technology company's stock after acquiring an additional 5,348 shares during the quarter. Clearbridge Investments LLC's holdings in QUALCOMM were worth $27,337,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of QCOM. Nordea Investment Management AB raised its stake in QUALCOMM by 39.7% during 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 buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of QUALCOMM by 21.9% during 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 acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $2,058,000. Burney Co. lifted its stake in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter worth $240,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded down $11.96 during midday trading on Friday, hitting $127.46. The company's stock had a trading volume of 19,007,907 shares, compared to its average volume of 8,683,142. QUALCOMM Incorporated has a 12 month low of $126.68 and a 12 month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $140.97 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock's 50-day moving average price is $161.74 and its 200-day moving average price is $163.09.

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

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were 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 owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. 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 three months. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on QCOM shares. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One 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 MarketBeat.com, the stock has a consensus 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.