Sciencast Management LP Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sciencast Management LP boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,798 shares of the wireless technology company's stock after buying an additional 3,181 shares during the quarter. QUALCOMM accounts for approximately 0.8% of Sciencast Management LP's holdings, making the stock its 26th biggest position. Sciencast Management LP's holdings in QUALCOMM were worth $3,041,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in QCOM. State Street Corp boosted its position in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,989,725 shares during the last quarter. Amundi grew its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Bank of New York Mellon Corp increased its holdings in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after buying an additional 193,236 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock worth $1,421,037,000 after acquiring an additional 498,284 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Up 0.5 %

QUALCOMM stock traded up $0.82 during midday trading on Tuesday, reaching $160.90. The company's stock had a trading volume of 1,285,229 shares, compared to its average volume of 7,745,170. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market capitalization of $177.96 billion, a P/E ratio of 17.19, a PEG 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 stock's 50-day simple moving average is $164.57 and its 200-day simple moving average is $163.95.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results 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%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed 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. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

Insider Buying and Selling

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 value of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at approximately $9,374,385.96. The trade was a 5.29 % 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 quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Company 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.