Nan Shan Life Insurance Co. Ltd. Has $115.47 Million Stake in QUALCOMM Incorporated $QCOM

Key Points

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Nan Shan Life Insurance Co. Ltd. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 40.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,735 shares of the wireless technology company's stock after acquiring an additional 217,778 shares during the quarter. QUALCOMM makes up approximately 2.7% of Nan Shan Life Insurance Co. Ltd.'s portfolio, making the stock its 6th largest position. Nan Shan Life Insurance Co. Ltd. owned about 0.07% of QUALCOMM worth $115,474,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC grew its stake in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter worth about $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth about $30,000. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Mizuho cut their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Citigroup reissued a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Trading Up 0.7%

Shares of QUALCOMM stock opened at $158.90 on Tuesday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10. The company has a market cap of $171.45 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 2.30 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $155.80 and its 200-day moving average price is $153.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 over the last three months. 0.08% of the stock is owned by corporate insiders.

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.

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