ARGA Investment Management LP Has $25.64 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

ARGA Investment Management LP boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2,533.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,926 shares of the wireless technology company's stock after buying an additional 160,588 shares during the quarter. QUALCOMM makes up about 0.9% of ARGA Investment Management LP's portfolio, making the stock its 21st biggest position. ARGA Investment Management LP's holdings in QUALCOMM were worth $25,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC increased its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The stock was 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 424,747 shares of company stock valued at $8,402,174. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $158.09 on Tuesday. The stock has a fifty day moving average price of $151.53 and a 200-day moving average price of $155.01. The company has a market cap of $173.58 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 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 analysts' expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. QUALCOMM's revenue was up 17.0% on a year-over-year basis. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 36.25%.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI decreased their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $188.00.

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.

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