Sumitomo Mitsui DS Asset Management Company Ltd Acquires 6,017 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

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

A number of other large investors also recently modified their holdings of QCOM. LaFleur & Godfrey LLC boosted its stake in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock valued at $480,000 after purchasing an additional 300 shares in the last quarter. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% in 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 last quarter. Revolve Wealth Partners LLC boosted its position in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after buying an additional 340 shares during the period. SVB Wealth LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $1,974,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of QUALCOMM by 24.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,784 shares of the wireless technology company's stock valued at $1,512,000 after buying an additional 1,936 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

QCOM has been the subject of several analyst reports. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup lowered their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Stock Down 0.1%

Shares of QCOM stock traded down $0.22 during mid-day trading on Friday, reaching $162.11. 4,280,773 shares of the company's stock traded hands, compared to its average volume of 8,538,196. The company's 50-day moving average price is $151.32 and its 200-day moving average price is $154.93. The company has a market cap of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 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 $211.09.

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, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during 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%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction 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 firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 425,016 shares of company stock valued at $8,437,440 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

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.