QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by FourThought Financial Partners LLC

Key Points

• FourThought Financial Partners LLC increased its stake in QUALCOMM by 5.0% in the first quarter, bringing its total ownership to 52,230 shares valued at approximately $8 million.
• Several institutional investors, including GAMMA Investing LLC and Northern Trust Corp, have significantly increased their holdings in QUALCOMM, contributing to a total institutional ownership of 74.35% of the company.
• Analysts have adjusted price targets for QUALCOMM, with the consensus target now at $184.86, while the company reported a quarterly EPS of $2.85, surpassing expectations.

FourThought Financial Partners LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,230 shares of the wireless technology company's stock after purchasing an additional 2,481 shares during the quarter. FourThought Financial Partners LLC's holdings in QUALCOMM were worth $8,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after purchasing an additional 3,247,068 shares in the last quarter. Northern Trust Corp increased its holdings in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $204,085,000. Finally, Capital Research Global Investors increased its holdings in shares of QUALCOMM by 525.5% during the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after acquiring an additional 1,187,531 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. TD Cowen reduced their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Finally, Wells Fargo & Company cut their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $184.86.

Insider Activity

In related 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.40 on Friday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.64. The firm has a market cap of $173.92 billion, a P/E ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26. The company has a 50 day moving average of $154.60 and a 200 day moving average of $155.03. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm's revenue was up 17.0% on a year-over-year basis. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is presently 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.

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