213,193 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 213,193 shares of the wireless technology company's stock, valued at approximately $32,751,000. QUALCOMM makes up approximately 0.7% of GF Fund Management CO. LTD.'s portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $29,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the 4th quarter worth about $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. 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. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $192.08.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 425,068 shares of company stock worth $8,418,305. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.3%

NASDAQ QCOM traded up $0.49 during trading on Thursday, reaching $148.09. 2,937,093 shares of the company's stock were exchanged, compared to its average volume of 8,808,334. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market cap of $162.60 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a 50 day moving average price of $144.83 and a two-hundred day moving average price of $155.88.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating 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 quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 EPS. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

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.