WIM INVESTMENT MANAGEMENT Ltd Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

WIM INVESTMENT MANAGEMENT Ltd lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 60.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,346 shares of the wireless technology company's stock after buying an additional 8,771 shares during the period. QUALCOMM comprises 1.2% of WIM INVESTMENT MANAGEMENT Ltd's holdings, making the stock its 13th largest position. WIM INVESTMENT MANAGEMENT Ltd's holdings in QUALCOMM were worth $3,586,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter worth $29,000. Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm'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 directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, 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 sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. Corporate insiders own 0.08% of the company's stock.

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QUALCOMM Stock Down 0.7 %

Shares of QCOM traded down $1.13 during trading hours on Friday, hitting $156.82. The stock had a trading volume of 10,940,080 shares, compared to its average volume of 8,238,854. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The firm has a market capitalization of $173.44 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a 50 day simple moving average of $164.51 and a 200-day simple moving average of $163.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

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.