PKO Investment Management Joint Stock Co Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

PKO Investment Management Joint Stock Co grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,352 shares of the wireless technology company's stock after acquiring an additional 5,352 shares during the quarter. QUALCOMM comprises approximately 0.9% of PKO Investment Management Joint Stock Co's portfolio, making the stock its 25th biggest position. PKO Investment Management Joint Stock Co's holdings in QUALCOMM were worth $7,581,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of QCOM. Tallon Kerry Patrick acquired a new stake in shares of QUALCOMM during the fourth quarter worth $207,000. LaFleur & Godfrey LLC lifted its holdings in shares of QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after purchasing an additional 300 shares during the period. Brighton Jones LLC lifted its holdings in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after purchasing an additional 9,343 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of QUALCOMM during the fourth quarter worth $10,394,000. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after purchasing an additional 340 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM stock traded up $0.74 during mid-day trading on Wednesday, reaching $155.20. The stock had a trading volume of 1,657,876 shares, compared to its average volume of 8,694,715. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a market cap of $170.41 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The business has a 50-day simple moving average of $146.71 and a 200 day simple moving average of $155.12. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Bank of America reduced their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average target price of $190.28.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares of the company's stock, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock worth $8,135,164. 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.