KLP Kapitalforvaltning AS raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 602,600 shares of the wireless technology company's stock after buying an additional 105,400 shares during the quarter. KLP Kapitalforvaltning AS owned 0.05% of QUALCOMM worth $92,565,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $2,721,882,000. GAMMA Investing LLC lifted its holdings in 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 during the last quarter. Northern Trust Corp lifted 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 purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in QUALCOMM in the 4th quarter valued at $204,085,000. Institutional investors and hedge funds own 74.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Evercore ISI lowered their price target on 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 QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group boosted their price objective on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $184.86.
View Our Latest Analysis on QCOM
Insiders Place Their Bets
In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's 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 transaction, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. Company insiders own 0.08% of the company's stock.
QUALCOMM Stock Performance
Shares of QCOM traded down $0.08 during trading hours on Friday, reaching $158.77. 2,357,754 shares of the company traded hands, compared to its average volume of 8,323,263. The stock has a market capitalization of $174.32 billion, a P/E ratio of 16.18, a P/E/G ratio of 2.06 and a beta of 1.26. 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 Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64. The business has a fifty day moving average price of $154.48 and a 200-day moving average price of $155.04.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given 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 2.24%. QUALCOMM's dividend payout ratio is presently 36.25%.
About QUALCOMM
(
Free Report)
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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