Avanza Fonder AB Has $15.39 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Avanza Fonder AB reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 99,888 shares of the wireless technology company's stock after selling 12,627 shares during the period. QUALCOMM comprises 0.5% of Avanza Fonder AB's holdings, making the stock its 27th largest position. Avanza Fonder AB's holdings in QUALCOMM were worth $15,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Eagle Strategies LLC raised its position in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares in the last quarter. TBH Global Asset Management LLC boosted its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc raised its stake in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its holdings in QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after acquiring an additional 65 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The stock was 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. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 in the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $2.27 during mid-day trading on Friday, reaching $156.43. 2,857,626 shares of the company's stock traded hands, compared to its average volume of 8,716,802. 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 firm has a market capitalization of $171.76 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The firm has a 50 day moving average price of $145.25 and a two-hundred day moving average price of $155.17.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.28%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on QCOM shares. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wells Fargo & Company reduced their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. TD Cowen dropped their price objective 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. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $189.88.

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.