Norges Bank Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Norges Bank purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 17,718,277 shares of the wireless technology company's stock, valued at approximately $2,721,882,000. Norges Bank owned about 1.60% of QUALCOMM at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Caisse Des Depots ET Consignations purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $3,665,000. Providence Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 1.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 8,837 shares of the wireless technology company's stock valued at $1,422,000 after acquiring an additional 132 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of QUALCOMM by 16.7% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,007 shares of the wireless technology company's stock valued at $5,378,000 after acquiring an additional 5,015 shares in the last quarter. LM Advisors LLC boosted its stake in QUALCOMM by 16.4% in the 4th quarter. LM Advisors LLC now owns 12,453 shares of the wireless technology company's stock worth $1,913,000 after purchasing an additional 1,751 shares during the period. Finally, AssuredPartners Investment Advisors LLC purchased a new position in QUALCOMM during the 4th quarter worth approximately $930,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $5.25 during trading hours on Friday, reaching $152.72. The stock had a trading volume of 8,915,861 shares, compared to its average volume of 8,605,322. The company has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business's fifty day moving average is $164.16 and its two-hundred day moving average is $163.84. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QCOM. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction 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 $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by insiders.

QUALCOMM Company 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.