QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in QUALCOMM by 2.2% during the first quarter, holding a total of 247,134 shares valued at approximately $37.96 million.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, made significant increases in their positions in QUALCOMM, with GAMMA increasing its stake by over 20,700%.
• QUALCOMM reported $2.77 EPS for the last quarter, exceeding analysts' expectations, alongside a quarterly dividend of $0.89 payable on September 25th.

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 247,134 shares of the wireless technology company's stock after purchasing an additional 5,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in QUALCOMM were worth $37,962,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Eagle Strategies LLC raised its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of QUALCOMM by 2.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after purchasing an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. raised its holdings in shares of QUALCOMM by 5.1% in the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after purchasing an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of QUALCOMM by 0.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock valued at $3,879,000 after purchasing an additional 69 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $1.50 during trading hours on Thursday, hitting $158.09. The company's stock had a trading volume of 6,287,459 shares, compared to its average volume of 8,781,626. The company has a 50 day moving average of $155.56 and a 200 day moving average of $153.82. The stock has a market cap of $170.58 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business's revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. QUALCOMM's dividend payout ratio is 34.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $181.10.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $148.10, for a total transaction of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares in the company, valued at $6,398,956.70. This trade represents a 7.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock valued at $8,352,355. Corporate insiders own 0.08% of the company's stock.

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.