PKO Investment Management Joint Stock Co Takes $6.76 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

PKO Investment Management Joint Stock Co bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 44,000 shares of the wireless technology company's stock, valued at approximately $6,759,000. QUALCOMM makes up 0.8% of PKO Investment Management Joint Stock Co's investment portfolio, making the stock its 24th largest position.

A number of other large investors also recently modified their holdings of the stock. Tallon Kerry Patrick acquired a new stake in QUALCOMM in the fourth quarter worth $207,000. LaFleur & Godfrey LLC raised its holdings in QUALCOMM by 10.6% in 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 raised its holdings in QUALCOMM by 116.6% in 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. First Citizens Bank & Trust Co. raised its holdings in QUALCOMM by 29.0% in the fourth quarter. First Citizens Bank & Trust Co. now owns 5,840 shares of the wireless technology company's stock worth $897,000 after purchasing an additional 1,312 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in QUALCOMM by 1.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,597 shares of the wireless technology company's stock worth $1,474,000 after purchasing an additional 167 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $3.12 during mid-day trading on Friday, reaching $145.22. 13,752,285 shares of the company were exchanged, compared to its average volume of 8,785,850. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company's 50-day simple moving average is $144.30 and its 200-day simple moving average is $155.53. The stock has a market capitalization of $159.45 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.01 and a beta of 1.29.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. QUALCOMM's payout ratio is 36.25%.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. 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 3,337 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 425,068 shares of company stock valued at $8,418,305. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Loop Capital decreased their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $189.88.

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.