Czech National Bank Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Czech National Bank lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 254,031 shares of the wireless technology company's stock after acquiring an additional 13,144 shares during the period. Czech National Bank's holdings in QUALCOMM were worth $39,022,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on QCOM. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $189.88.

QUALCOMM Trading Up 1.6%

Shares of QCOM stock traded up $2.31 on Tuesday, reaching $148.94. 6,155,090 shares of the company's stock were exchanged, compared to its average volume of 8,765,947. The company's fifty day simple moving average is $144.06 and its 200 day simple moving average is $155.43. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $163.54 billion, a PE ratio of 15.91, a P/E/G ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.39%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's payout ratio is 36.25%.

Insiders Place Their Bets

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,064 shares of company stock worth $8,381,948 in the last three months. Corporate 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.