MML Investors Services LLC Has $43.61 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

MML Investors Services LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 283,877 shares of the wireless technology company's stock after acquiring an additional 7,267 shares during the period. MML Investors Services LLC's holdings in QUALCOMM were worth $43,609,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the fourth 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 during the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $527,053,000. Capital Research Global Investors raised its holdings in QUALCOMM by 525.5% in the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after acquiring an additional 1,187,531 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock valued at $1,158,654,000 after acquiring an additional 709,644 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Finally, Piper Sandler dropped 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $201.21.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The stock was 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 approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.3 %

NASDAQ QCOM traded up $1.77 on Wednesday, reaching $140.51. The stock had a trading volume of 9,068,006 shares, compared to its average volume of 8,884,202. The business has a 50 day moving average price of $151.75 and a 200 day moving average price of $159.90. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a market capitalization of $155.40 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.53%. QUALCOMM's dividend payout ratio is 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.