GF Fund Management CO. LTD. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

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

Several other institutional investors also recently bought and sold shares of the business. Parr Mcknight Wealth Management Group LLC acquired a new position in QUALCOMM in the 4th quarter valued at $2,973,000. GTS Securities LLC raised its holdings in QUALCOMM by 131.2% in the 4th quarter. GTS Securities LLC now owns 52,589 shares of the wireless technology company's stock valued at $8,079,000 after acquiring an additional 29,841 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in QUALCOMM in the 4th quarter valued at $131,000. Vise Technologies Inc. increased its holdings in shares of QUALCOMM by 10.3% during the 4th quarter. Vise Technologies Inc. now owns 22,761 shares of the wireless technology company's stock worth $3,497,000 after buying an additional 2,124 shares during the last quarter. Finally, Retirement Planning Group LLC increased its holdings in shares of QUALCOMM by 79.0% during the 4th quarter. Retirement Planning Group LLC now owns 2,512 shares of the wireless technology company's stock worth $386,000 after buying an additional 1,109 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 2.2%

Shares of QUALCOMM stock traded up $3.25 during trading on Tuesday, reaching $148.63. The company had a trading volume of 9,775,711 shares, compared to its average volume of 8,853,042. The company has a market cap of $163.20 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm's fifty day moving average is $145.20 and its 200-day moving average is $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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company's quarterly revenue 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. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

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

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research analyst reports. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Loop Capital decreased their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup decreased their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $192.08.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,568 shares of company stock worth $1,818,305. Corporate insiders own 0.08% of the company's stock.

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.