92,590 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. invested approximately $14.22 million in QUALCOMM, acquiring 92,590 shares during the first quarter, indicating institutional interest in the company.
• Insider transactions included sales by CFO Akash Palkhiwala and insider Heather S. Ace, with both showing a decrease in their respective positions, reflecting a trend of insider selling.
• QUALCOMM announced a quarterly dividend of $0.89 per share, which will be paid on September 25, reflecting a yield of 2.4% for shareholders.

ASR Vermogensbeheer N.V. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 92,590 shares of the wireless technology company's stock, valued at approximately $14,222,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. GAMMA Investing LLC lifted its position in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after acquiring an additional 3,247,068 shares during the period. Northern Trust Corp grew its stake in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 1,424,106 shares during the period. Goldman Sachs Group Inc. grew its stake in QUALCOMM by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock worth $1,114,403,000 after acquiring an additional 1,407,797 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of QUALCOMM during the 4th quarter worth $204,085,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent research reports. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday. UBS Group lifted their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Sanford C. Bernstein set a $185.00 target price on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $181.10.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,352,355 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.6%

NASDAQ:QCOM traded down $0.87 during trading hours on Wednesday, hitting $145.84. 8,450,254 shares of the stock traded hands, compared to its average volume of 8,473,886. The firm has a 50 day moving average price of $155.08 and a 200 day moving average price of $154.58. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm has a market cap of $157.36 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.14 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the company posted $2.33 EPS. QUALCOMM's revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is currently 34.33%.

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.