QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 71,159 shares of the wireless technology company's stock after purchasing an additional 9,760 shares during the quarter. QUALCOMM makes up approximately 0.7% of Westpac Banking Corp's investment portfolio, making the stock its 26th biggest position. Westpac Banking Corp's holdings in QUALCOMM were worth $10,931,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi increased its holdings in QUALCOMM by 36.6% in 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 stake in QUALCOMM during the 4th quarter worth approximately $527,053,000. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after purchasing an additional 1,380,500 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $14.66 during trading on Thursday, hitting $139.42. 16,453,352 shares of the stock traded hands, compared to its average volume of 8,631,237. The company has a fifty day moving average price of $162.63 and a two-hundred day moving average price of $163.40. 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 52-week low of $138.58 and a 52-week high of $230.63. The company has a market cap of $154.20 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % 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 in the last 90 days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on QCOM. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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.