National Pension Service Has $391.26 Million 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 shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.23% of QUALCOMM worth $391,256,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of QCOM. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC increased its position 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 purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp bought a new stake in shares of QUALCOMM in the 1st quarter worth about $27,000. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. 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 research report on Monday, July 28th. Wells Fargo & Company dropped their target price 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. UBS Group boosted their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Bank of America cut their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $181.10.

QUALCOMM Stock Up 1.9%

QCOM stock traded up $2.86 during trading hours on Wednesday, hitting $156.59. The company's stock had a trading volume of 7,098,897 shares, compared to its average volume of 8,781,794. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $168.96 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 2.24 and a beta of 1.23. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The stock has a 50 day moving average price of $155.35 and a two-hundred day moving average price of $153.91.

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

QUALCOMM Announces Dividend

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 dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction 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 transaction, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 in the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Company 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.