Nuveen LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 3,448,430 shares of the wireless technology company's stock, valued at approximately $529,713,000. Nuveen LLC owned approximately 0.31% of QUALCOMM at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of QCOM. Aigen Investment Management LP acquired a new position in shares of QUALCOMM during the 1st quarter worth approximately $747,000. Cooper Financial Group lifted its holdings in QUALCOMM by 41.6% in the first quarter. Cooper Financial Group now owns 6,031 shares of the wireless technology company's stock valued at $926,000 after acquiring an additional 1,772 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in QUALCOMM by 0.4% in the first quarter. King Luther Capital Management Corp now owns 582,723 shares of the wireless technology company's stock valued at $89,512,000 after acquiring an additional 2,554 shares during the last quarter. American Alpha Advisors LLC acquired a new position in QUALCOMM in the first quarter valued at approximately $407,000. Finally, Entropy Technologies LP lifted its holdings in QUALCOMM by 197.3% in the first quarter. Entropy Technologies LP now owns 57,846 shares of the wireless technology company's stock valued at $8,886,000 after acquiring an additional 38,389 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Piper Sandler decreased their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Evercore ISI decreased 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. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $181.10.
Read Our Latest Analysis on QCOM
Insider Activity at QUALCOMM
In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. 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 quarter. 0.08% of the stock is owned by insiders.
QUALCOMM Stock Up 1.1%
QUALCOMM stock opened at $147.56 on Monday. The firm has a market capitalization of $159.22 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.15 and a beta of 1.23. The stock's fifty day simple moving average is $155.07 and its 200-day simple moving average is $154.06. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.
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 analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.
QUALCOMM Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM - Free Report).

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