Global X Japan Co. Ltd. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Global X Japan Co. Ltd. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,255 shares of the wireless technology company's stock after buying an additional 4,913 shares during the period. QUALCOMM makes up 1.5% of Global X Japan Co. Ltd.'s portfolio, making the stock its 20th largest holding. Global X Japan Co. Ltd.'s holdings in QUALCOMM were worth $12,942,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC lifted its stake in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in 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 buying an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Robert W. Baird cut their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM 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 note on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $190.28.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 0.5%

Shares of QCOM traded down $0.83 during mid-day trading on Thursday, hitting $153.63. 6,705,737 shares of the company traded hands, compared to its average volume of 8,660,784. The company has a market capitalization of $168.69 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $146.91 and a 200 day moving average of $155.11. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $225.90.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 earnings per share. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.32%. This is a positive change 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.