Novem Group Purchases Shares of 20,789 QUALCOMM Incorporated (NASDAQ:QCOM)

Novem Group purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 20,789 shares of the wireless technology company's stock, valued at approximately $3,194,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in QUALCOMM during the 4th quarter valued at about $2,721,882,000. Amundi grew its stake in QUALCOMM by 36.6% during the 4th 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. Raymond James Financial Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $527,053,000. Northern Trust Corp grew its stake in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 over the last three months. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Susquehanna reduced their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Wells Fargo & Company reduced their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $192.08.

QUALCOMM Stock Performance

Shares of QCOM traded down $1.99 on Friday, reaching $145.38. 8,991,695 shares of the stock traded hands, compared to its average volume of 8,869,145. The firm has a market cap of $159.63 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock's 50-day moving average price is $145.46 and its 200-day moving average price is $156.40.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.45%. 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.