PGGM Investments Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

PGGM Investments grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,029 shares of the wireless technology company's stock after purchasing an additional 6,117 shares during the quarter. PGGM Investments' holdings in QUALCOMM were worth $21,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in QCOM. Amundi increased its position in shares of 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 acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $527,053,000. Pacer Advisors Inc. raised its position in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after buying an additional 1,380,500 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was 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 owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,555 shares of company stock valued at $5,094,134 over the last three months. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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QUALCOMM Stock Performance

Shares of QCOM opened at $152.80 on Thursday. The company has a market cap of $169.00 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The business's fifty day simple moving average is $164.74 and its two-hundred day simple moving average is $164.70. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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 the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM's dividend payout ratio is presently 36.32%.

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.

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