Assenagon Asset Management S.A. Buys 956,311 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Assenagon Asset Management S.A. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 222.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,385,326 shares of the wireless technology company's stock after purchasing an additional 956,311 shares during the period. Assenagon Asset Management S.A. owned about 0.13% of QUALCOMM worth $212,800,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM in the 4th quarter worth about $26,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 2.5%

Shares of QCOM stock traded down $3.98 on Friday, reaching $154.72. 8,444,486 shares of the company's stock traded hands, compared to its average volume of 8,742,171. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $169.88 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The business's 50 day moving average price is $145.85 and its two-hundred day moving average price is $155.15.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is 36.25%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $189.88.

Insider Transactions at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by corporate insiders.

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.