Polymer Capital Management HK LTD Buys 7,800 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Polymer Capital Management HK LTD boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 520.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,300 shares of the wireless technology company's stock after acquiring an additional 7,800 shares during the period. Polymer Capital Management HK LTD's holdings in QUALCOMM were worth $1,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Amundi raised its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $527,053,000. Geode Capital Management LLC increased its position in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in QUALCOMM by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock valued at $1,158,654,000 after purchasing an additional 709,644 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QCOM opened at $127.46 on Friday. The firm has a market capitalization of $140.97 billion, a PE ratio of 13.62, a price-to-earnings-growth 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 50-day moving average is $161.74 and its two-hundred day moving average is $163.09. QUALCOMM Incorporated has a 1 year low of $126.68 and a 1 year 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%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) 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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