BI Asset Management Fondsmaeglerselskab A S Has $67.42 Million Holdings in QUALCOMM Incorporated $QCOM

Key Points

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BI Asset Management Fondsmaeglerselskab A S grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,913 shares of the wireless technology company's stock after buying an additional 2,276 shares during the period. QUALCOMM makes up approximately 0.8% of BI Asset Management Fondsmaeglerselskab A S's holdings, making the stock its 24th biggest position. BI Asset Management Fondsmaeglerselskab A S's holdings in QUALCOMM were worth $67,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new position in shares of QUALCOMM during the 1st quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Robert W. Baird cut their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Mizuho cut their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Stock Up 0.7%

NASDAQ QCOM opened at $158.90 on Tuesday. The firm has a market cap of $171.45 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The stock's 50 day simple moving average is $155.80 and its 200 day simple moving average is $153.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.33 EPS. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. QUALCOMM's dividend payout ratio is 34.33%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares in the company, valued at $6,398,956.70. This represents a 7.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. 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 three months. Insiders own 0.08% of the company's stock.

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.

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