QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,830 shares of the wireless technology company's stock after acquiring an additional 6,288 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in QUALCOMM were worth $3,200,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the third quarter valued at $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Finally, Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a report on Thursday, November 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 assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Price Performance

QCOM stock traded down $8.27 on Friday, reaching $165.43. The company had a trading volume of 12,520,589 shares, compared to its average volume of 7,784,163. 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. The company's fifty day moving average is $164.46 and its 200 day moving average is $165.72. The company has a market cap of $182.97 billion, a P/E ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on 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 transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock valued at $7,713,734 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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.