DnB Asset Management AS Has $45.06 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

DnB Asset Management AS lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 293,303 shares of the wireless technology company's stock after acquiring an additional 5,913 shares during the period. DnB Asset Management AS's holdings in QUALCOMM were worth $45,057,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter worth $38,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 3.3 %

Shares of QCOM traded down $5.25 during midday trading on Friday, reaching $152.72. 8,915,861 shares of the stock were exchanged, compared to its average volume of 8,605,322. The company has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a P/E/G 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. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a 50 day simple moving average of $164.16 and a 200-day simple moving average of $163.84.

Remove Ads

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 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 forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QCOM. Melius assumed 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. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now 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 at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was 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. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is currently owned by insiders.

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.