Brandywine Global Investment Management LLC Has $48.45 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Brandywine Global Investment Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 52.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 315,390 shares of the wireless technology company's stock after selling 344,523 shares during the period. Brandywine Global Investment Management LLC's holdings in QUALCOMM were worth $48,447,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.6% in the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock valued at $17,568,141,000 after buying an additional 638,284 shares during the last quarter. Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% during the fourth 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 period. Invesco Ltd. increased its stake in shares of QUALCOMM by 2.2% during the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock worth $1,512,458,000 after purchasing an additional 215,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of QUALCOMM by 17.0% during the fourth 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 period. Finally, Deutsche Bank AG increased its stake in shares of QUALCOMM by 11.2% during the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after purchasing an additional 875,412 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QCOM shares. Citigroup reiterated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Piper Sandler lowered their target price on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned 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.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction 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 owned 43,207 shares in the company, valued at $6,398,956.70. The trade was a 7.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the sale, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,352,355 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 1.0%

Shares of QCOM opened at $158.09 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The business's fifty day moving average is $155.56 and its 200-day moving average is $153.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market cap of $170.58 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 2.28 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the company posted $2.33 EPS. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

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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