Pictet Asset Management Holding SA Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pictet Asset Management Holding SA boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 43.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 786,235 shares of the wireless technology company's stock after buying an additional 239,130 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.07% of QUALCOMM worth $120,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nordea Investment Management AB raised its holdings in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in QUALCOMM in the 4th quarter worth $2,058,000. Burney Co. grew its position in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $240,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

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QUALCOMM Stock Performance

NASDAQ:QCOM traded up $0.72 during trading hours on Monday, reaching $153.44. The company had a trading volume of 3,299,061 shares, compared to its average volume of 7,676,689. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $147.88 and a 1-year high of $230.63. The business's 50 day moving average price is $164.16 and its 200-day moving average price is $163.82. The firm has a market cap of $169.70 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on QCOM shares. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

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.