Prudential PLC Has $14.46 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Prudential PLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 94,096 shares of the wireless technology company's stock after selling 16,887 shares during the period. Prudential PLC's holdings in QUALCOMM were worth $14,455,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Nordea Investment Management AB increased its position in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of QUALCOMM by 21.9% in the 4th 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 purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,058,000. Burney Co. lifted 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 worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction 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 represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is owned by company insiders.

Remove Ads

Analyst Ratings Changes

QCOM has been the topic of several research reports. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Finally, Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Trading Down 8.6 %

NASDAQ QCOM traded down $11.96 on Friday, reaching $127.46. The company had a trading volume of 19,007,907 shares, compared to its average volume of 8,683,142. The stock has a market cap of $140.97 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $126.68 and a 52 week high of $230.63. The stock's 50 day moving average is $161.74 and its 200-day moving average is $163.13. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.67%. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

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.