QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,945 shares of the wireless technology company's stock after purchasing an additional 26,355 shares during the quarter. Asset Management One Co. Ltd.'s holdings in QUALCOMM were worth $72,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of QCOM. LaFleur & Godfrey LLC grew its stake in shares of 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 last quarter. Brighton Jones LLC lifted its holdings in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock worth $2,666,000 after buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC grew its position in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock worth $391,000 after buying an additional 340 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its holdings in shares of QUALCOMM by 6.9% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 4,120 shares of the wireless technology company's stock valued at $633,000 after acquiring an additional 265 shares in the last quarter. Finally, MONECO Advisors LLC boosted its holdings in QUALCOMM by 11.5% in the fourth quarter. MONECO Advisors LLC now owns 4,328 shares of the wireless technology company's stock valued at $665,000 after acquiring an additional 445 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $2.57 during midday trading on Tuesday, reaching $155.71. 7,262,420 shares of the company were exchanged, compared to its average volume of 8,580,983. The stock has a market cap of $170.97 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.95 and a beta of 1.26. The business's fifty day moving average is $147.82 and its two-hundred day moving average is $154.83. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. 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 issued 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. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business'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 earnings per share. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced 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 is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital lowered their price target 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Activity at QUALCOMM

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