QRG Capital Management Inc. Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

QRG Capital Management Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 386,975 shares of the wireless technology company's stock after purchasing an additional 17,510 shares during the period. QUALCOMM accounts for about 0.6% of QRG Capital Management Inc.'s portfolio, making the stock its 24th biggest position. QRG Capital Management Inc.'s holdings in QUALCOMM were worth $59,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC increased its stake in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after buying an additional 670,432 shares during the period. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi grew its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp grew its holdings 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 worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QCOM shares. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Trading Up 1.4%

QUALCOMM stock traded up $2.15 during midday trading on Monday, hitting $156.87. 8,680,450 shares of the stock were exchanged, compared to its average volume of 8,741,916. The stock's 50-day simple moving average is $145.85 and its 200 day simple moving average is $155.14. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $172.24 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm 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 business posted $2.44 earnings per share. The business's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business 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. This represents a $3.56 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. 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.