Deutsche Bank AG Acquires 875,412 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Deutsche Bank AG increased its holdings in QUALCOMM by 11.2%, acquiring an additional 875,412 shares, bringing its total ownership to approximately 8.67 million shares worth $1.33 billion.
• Analysts have mixed views on QUALCOMM, with one sell rating, twelve hold ratings, and eleven buy ratings, leading to a consensus target price of $181.10.
• QUALCOMM declared a quarterly dividend of $0.89 per share with a yield of 2.4%, set to be paid on September 25th.

Deutsche Bank AG grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,665,910 shares of the wireless technology company's stock after purchasing an additional 875,412 shares during the quarter. Deutsche Bank AG owned approximately 0.79% of QUALCOMM worth $1,331,170,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of QCOM. Brighton Jones LLC grew its stake in 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. Revolve Wealth Partners LLC increased its stake 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 valued at $391,000 after acquiring an additional 340 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of QUALCOMM during the 4th quarter valued at $55,000. APG Asset Management US Inc. boosted its stake in QUALCOMM by 2.9% during the fourth quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company's stock worth $5,387,000 after acquiring an additional 992 shares in the last quarter. Finally, One Degree Advisors Inc raised its holdings in shares of QUALCOMM by 4.4% during the fourth quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company's stock valued at $361,000 after purchasing an additional 99 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus target price of $181.10.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $148.10, for a total value of $493,617.30. Following the transaction, the chief financial officer owned 43,207 shares in the company, valued at approximately $6,398,956.70. The trade was a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,352,355 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $0.06 during trading hours on Thursday, hitting $145.90. The stock had a trading volume of 6,745,992 shares, compared to its average volume of 8,688,162. The firm has a market capitalization of $157.43 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 2.13 and a beta of 1.23. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The company has a 50 day simple moving average of $155.03 and a two-hundred day simple moving average of $154.45. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

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, topping the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm's revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 earnings per share. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is presently 34.33%.

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.