Commonwealth Equity Services LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 597,158 shares of the wireless technology company's stock after acquiring an additional 7,871 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of QUALCOMM worth $91,735,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% in the third 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 purchasing an additional 1,989,725 shares during the last quarter. Amundi increased 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 valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the last quarter. Institutional investors own 74.35% of the company's stock.
Insider Buying and Selling at QUALCOMM
In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm'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 value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
QUALCOMM Stock Performance
QCOM stock traded down $0.32 during midday trading on Monday, reaching $156.26. 1,244,578 shares of the company were exchanged, compared to its average volume of 8,220,687. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm has a market capitalization of $172.83 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average price of $164.68 and a two-hundred day moving average price of $164.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.
QUALCOMM Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date 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
A number of research analysts have issued reports on the company. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, November 20th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned 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.
Check Out Our Latest Research Report on QUALCOMM
About QUALCOMM
(
Free Report)
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.
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