Blue Sky Capital Consultants Group Inc. Takes $674,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Sky Capital Consultants Group Inc. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,387 shares of the wireless technology company's stock, valued at approximately $674,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $2,721,882,000. Amundi raised its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the 4th quarter worth $527,053,000. Northern Trust Corp boosted its position 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Citigroup lowered their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Loop Capital reduced their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $192.08.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock valued at $1,818,305 in the last 90 days. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM traded up $3.25 during trading on Tuesday, reaching $148.63. 9,775,711 shares of the company traded hands, compared to its average volume of 8,853,042. The company has a market cap of $163.20 billion, a P/E ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.29. The firm has a fifty day simple moving average of $145.20 and a 200 day simple moving average of $155.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

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, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.40%. QUALCOMM's payout ratio is presently 36.25%.

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.