Mirae Asset Global Investments Co. Ltd. Has $145.66 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 978,328 shares of the wireless technology company's stock after purchasing an additional 109,171 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of QUALCOMM worth $145,657,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi grew its holdings 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 purchasing an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $527,053,000. GAMMA Investing LLC raised its holdings in QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Northern Trust Corp raised its holdings in 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 purchasing an additional 1,493,076 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the transaction, the chief financial officer now directly owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QCOM. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Evercore ISI cut their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Stock Performance

QCOM opened at $158.54 on Friday. The business's 50-day simple moving average is $149.44 and its 200 day simple moving average is $154.84. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week 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. The firm has a market capitalization of $174.08 billion, a PE ratio of 16.14, a PEG ratio of 2.04 and a beta of 1.26.

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 for the quarter, topping the consensus estimate 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 return on equity of 40.11% and a net margin of 26.11%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's 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.

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