Legal & General Group Plc Has $2 Billion Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Legal & General Group Plc increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,036,779 shares of the wireless technology company's stock after purchasing an additional 86,195 shares during the quarter. Legal & General Group Plc owned 0.90% of QUALCOMM worth $1,999,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in QUALCOMM in the second quarter valued at $32,000. Aspect Partners LLC boosted its holdings in shares of QUALCOMM by 71.8% during the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after acquiring an additional 74 shares during the period. McClarren Financial Advisors Inc. grew its position in shares of QUALCOMM by 43.2% during the second quarter. McClarren Financial Advisors Inc. now owns 199 shares of the wireless technology company's stock worth $40,000 after acquiring an additional 60 shares during the last quarter. Finally, First Pacific Financial acquired a new stake in shares of QUALCOMM in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company's stock, valued at $36,912,913.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 1.5 %

NASDAQ:QCOM traded down $2.53 during trading hours on Friday, hitting $170.13. 5,876,311 shares of the stock traded hands, compared to its average volume of 9,226,921. The firm has a 50 day moving average price of $169.98 and a 200 day moving average price of $182.00. The firm has a market cap of $189.87 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

Several equities research analysts have commented on QCOM shares. Barclays raised their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $230.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, September 17th. Robert W. Baird raised their price target on QUALCOMM from $200.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. HSBC downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Finally, KeyCorp raised their target price on shares of QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus price target of $211.67.

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.