IFM Investors Pty Ltd Buys 18,047 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

IFM Investors Pty Ltd increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 234,140 shares of the wireless technology company's stock after buying an additional 18,047 shares during the period. IFM Investors Pty Ltd's holdings in QUALCOMM were worth $39,816,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of QCOM. Teza Capital Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock valued at $28,979,000 after buying an additional 6,017 shares in the last quarter. Amundi grew its stake in 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 acquiring an additional 3,905,918 shares in the last quarter. First Foundation Advisors increased its holdings in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after acquiring an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in QUALCOMM by 42.2% during the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock worth $162,000 after acquiring an additional 313 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock traded down $0.22 on Friday, hitting $162.11. 4,280,773 shares of the company's stock traded hands, compared to its average volume of 8,538,196. The stock has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The company's fifty day simple moving average is $151.05 and its 200 day simple moving average is $154.90. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) 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 analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.20%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

Several research analysts have commented on QCOM shares. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Bank of America lowered their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Finally, Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $186.96.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,016 shares of company stock valued at $8,437,440 in the last ninety days. Company 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.