OFI Invest Asset Management Makes New $37.62 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

OFI Invest Asset Management purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 253,581 shares of the wireless technology company's stock, valued at approximately $37,620,000.

A number of other hedge funds also recently bought and sold shares of the company. Axis Wealth Partners LLC bought a new stake in QUALCOMM in the 4th quarter worth approximately $460,000. United Community Bank lifted its position in QUALCOMM by 14.6% in the 4th quarter. United Community Bank now owns 4,102 shares of the wireless technology company's stock worth $630,000 after buying an additional 524 shares during the last quarter. Personal CFO Solutions LLC lifted its position in QUALCOMM by 38.3% in the 4th quarter. Personal CFO Solutions LLC now owns 9,570 shares of the wireless technology company's stock worth $1,470,000 after buying an additional 2,648 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in QUALCOMM by 0.9% in the 4th quarter. Atlantic Union Bankshares Corp now owns 95,051 shares of the wireless technology company's stock worth $14,602,000 after buying an additional 875 shares during the last quarter. Finally, Amundi lifted its position 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. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on QCOM shares. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares of the company's stock, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,045 shares of company stock valued at $7,752,423 over the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $5.18 on Friday, hitting $161.22. The stock had a trading volume of 8,725,530 shares, compared to its average volume of 8,297,443. The stock has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 business's 50-day simple moving average is $164.76 and its two-hundred day simple moving average is $165.03. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate 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 predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

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.