Concord Asset Management LLC VA Acquires Shares of 5,342 QUALCOMM Incorporated (NASDAQ:QCOM)

Concord Asset Management LLC VA acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,342 shares of the wireless technology company's stock, valued at approximately $750,000.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth about $2,721,882,000. GAMMA Investing LLC lifted its holdings in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in QUALCOMM in the 4th quarter worth about $204,085,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.4%

Shares of QCOM traded up $2.19 during mid-day trading on Friday, hitting $154.80. 7,355,822 shares of the company traded hands, compared to its average volume of 8,488,572. The company has a market capitalization of $169.97 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $153.76 and a 200 day moving average of $154.96. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

Several research firms recently commented on QCOM. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research note on Thursday. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $186.00.

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.