National Pension Service Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• The National Pension Service increased its stake in QUALCOMM by 5.0%, now holding approximately 2.5 million shares valued at $391.26 million.
• QUALCOMM reported earnings of $2.77 per share for the last quarter, exceeding analysts' expectations, and achieved a 10.4% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.89 per share, yielding 2.3%, with the record date set for September 4th.

National Pension Service boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,547,076 shares of the wireless technology company's stock after purchasing an additional 121,012 shares during the period. National Pension Service owned about 0.23% of QUALCOMM worth $391,256,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in QUALCOMM by 565.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after acquiring an additional 105,631 shares during the last quarter. PFG Advisors increased its position in QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after acquiring an additional 321 shares during the last quarter. Teza Capital Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in QUALCOMM by 3.3% during the first 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 acquiring an additional 6,017 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in QUALCOMM by 12.3% during the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company's stock valued at $203,904,000 after acquiring an additional 145,509 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on QCOM shares. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Stock Down 0.2%

Shares of QUALCOMM stock traded down $0.24 during trading hours on Friday, reaching $157.85. 7,580,460 shares of the company were exchanged, compared to its average volume of 8,745,438. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The stock's fifty day moving average is $155.73 and its 200 day moving average is $153.73. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market cap of $170.32 billion, a PE ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

Insiders Place Their Bets

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 sale, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 424,099 shares of company stock valued at $8,352,355. 0.08% of the stock is currently owned by 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.