Crestline Management LP Invests $526,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Crestline Management LP acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,422 shares of the wireless technology company's stock, valued at approximately $526,000.

Several other institutional investors have also recently modified their holdings of QCOM. Vanguard Group Inc. grew its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi raised its position 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 purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp lifted its stake in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Piper Sandler decreased their target price 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. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $192.08.

QUALCOMM Stock Up 0.1 %

QCOM stock traded up $0.20 during midday trading on Friday, hitting $145.30. The company's stock had a trading volume of 6,214,779 shares, compared to its average volume of 8,914,585. The company has a market cap of $159.54 billion, a PE ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. The firm's 50-day moving average is $146.38 and its 200-day moving average is $157.41. QUALCOMM Incorporated has a 12 month low of $120.80 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 released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the firm posted $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on 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 transaction, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock valued at $5,733,290 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM 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.