QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,654 shares of the wireless technology company's stock after purchasing an additional 6,017 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in QUALCOMM were worth $28,979,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Von Berge Wealth Management Group LLC boosted its stake in shares of QUALCOMM by 3.1% in the first quarter. Von Berge Wealth Management Group LLC now owns 6,399 shares of the wireless technology company's stock worth $942,000 after acquiring an additional 191 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in QUALCOMM by 16.9% in the 1st quarter. Clear Creek Financial Management LLC now owns 3,099 shares of the wireless technology company's stock valued at $476,000 after purchasing an additional 447 shares in the last quarter. Smith Group Asset Management LLC boosted its stake in QUALCOMM by 2.2% during the 1st quarter. Smith Group Asset Management LLC now owns 4,700 shares of the wireless technology company's stock worth $722,000 after purchasing an additional 100 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in QUALCOMM by 6.8% during the 1st quarter. Vontobel Holding Ltd. now owns 274,574 shares of the wireless technology company's stock worth $42,177,000 after purchasing an additional 17,461 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. grew its holdings in shares of QUALCOMM by 45.4% during the first quarter. Astoria Portfolio Advisors LLC. now owns 10,232 shares of the wireless technology company's stock worth $1,437,000 after buying an additional 3,196 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer directly owned 49,779 shares in the company, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm'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 transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock worth $8,135,164. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 0.5%

QCOM opened at $159.26 on Tuesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business has a fifty day simple moving average of $149.90 and a 200-day simple moving average of $154.78. The firm has a market cap of $174.87 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.05 and a beta of 1.26.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price target 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. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Bank of America reduced their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Company 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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