Russell Investments Group Ltd. Acquires 19,616 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Russell Investments Group Ltd. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,183,250 shares of the wireless technology company's stock after buying an additional 19,616 shares during the period. Russell Investments Group Ltd. owned 0.11% of QUALCOMM worth $181,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of QUALCOMM during the fourth quarter valued at $2,721,882,000. Amundi grew its position in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in QUALCOMM during the 4th quarter valued at about $527,053,000. Geode Capital Management LLC raised its holdings in 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. Finally, Two Sigma Advisers LP lifted its stake 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 buying an additional 1,380,500 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on QCOM shares. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Trading Down 8.6 %

Shares of NASDAQ QCOM traded down $11.96 during trading hours on Friday, hitting $127.46. 19,007,907 shares of the company traded hands, compared to its average volume of 8,683,142. The stock has a market capitalization of $140.97 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company's 50 day moving average price is $161.74 and its 200 day moving average price is $163.05. QUALCOMM Incorporated has a 12 month low of $126.68 and a 12 month high of $230.63. 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 announced its earnings results 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%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. 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.