Banco Santander S.A. Acquires 46,569 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Banco Santander S.A. increased its holdings in QUALCOMM by 21.3% during the 1st quarter, owning a total of 265,255 shares valued at approximately $40.7 million.
• Several institutional investors significantly raised their stakes in QUALCOMM, with GAMMA Investing LLC increasing its holdings by 20,700.4% to own over 3.2 million shares worth about $501.2 million.
• QUALCOMM also declared a quarterly dividend of $0.89 per share, representing an annualized dividend yield of 2.4%, with payment scheduled for September 25th.

Banco Santander S.A. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,255 shares of the wireless technology company's stock after buying an additional 46,569 shares during the quarter. Banco Santander S.A.'s holdings in QUALCOMM were worth $40,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of QUALCOMM by 20,700.4% in 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 purchasing an additional 3,247,068 shares during the period. Northern Trust Corp raised its holdings 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 valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 valued at $1,502,509,000 after purchasing an additional 1,424,106 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $204,085,000. Finally, Capital Research Global Investors raised its holdings in shares of QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after purchasing an additional 1,187,531 shares during the period. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on QCOM shares. Evercore ISI decreased their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Piper Sandler decreased their price target on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday. Mizuho decreased their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday. Wall Street Zen upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Sanford C. Bernstein set a $185.00 price target on shares of QUALCOMM and gave the company an "outperform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $182.48.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated 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 owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,324,591. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 1.0%

NASDAQ:QCOM opened at $148.19 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.08 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $162.71 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.88 and a beta of 1.26. The firm has a fifty day simple moving average of $155.11 and a two-hundred day simple moving average of $154.93. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

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, topping analysts' consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $2.33 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

QUALCOMM 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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