Astoria Portfolio Advisors LLC. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 45.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,232 shares of the wireless technology company's stock after acquiring an additional 3,196 shares during the quarter. Astoria Portfolio Advisors LLC.'s holdings in QUALCOMM were worth $1,437,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi grew its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 1,493,076 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.
QUALCOMM Stock Up 1.8%
NASDAQ:QCOM traded up $2.92 during mid-day trading on Wednesday, hitting $162.32. 8,911,691 shares of the company's stock traded hands, compared to its average volume of 8,541,057. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company has a market capitalization of $178.23 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.06 and a beta of 1.26. The company has a fifty day moving average of $150.31 and a 200 day moving average of $154.82. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company 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 firm earned $2.44 EPS. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.
QUALCOMM Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.
Insider Buying and Selling at QUALCOMM
In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 426,797 shares of company stock valued at $8,672,710. 0.08% of the stock is owned by insiders.
Analyst Ratings Changes
Several equities analysts recently weighed in on QCOM shares. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. One 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 stock presently has an average rating of "Hold" and a consensus target price of $186.96.
Get Our Latest Stock Analysis on QUALCOMM
About QUALCOMM
(
Free Report)
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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