QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by TIAA Trust National Association

TIAA Trust National Association boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 208.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 153,041 shares of the wireless technology company's stock after purchasing an additional 103,422 shares during the period. TIAA Trust National Association's holdings in QUALCOMM were worth $23,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter worth about $27,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. Sunbeam Capital Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday. Bank of America lowered their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note 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 on the stock in a research note on Thursday, May 1st. Finally, Citigroup reissued a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $181.10.

QUALCOMM Trading Up 1.0%

Shares of QUALCOMM stock opened at $148.19 on Friday. The firm has a market capitalization of $159.90 billion, a PE ratio of 14.29, a P/E/G ratio of 1.90 and a beta of 1.23. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The firm's 50-day moving average price is $155.11 and its 200 day moving average price is $154.86. The company has a current ratio of 3.19, a quick ratio of 2.08 and a debt-to-equity ratio of 0.54.

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 analysts' consensus estimates of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. QUALCOMM's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.33 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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 $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's dividend payout ratio is presently 34.33%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock worth $8,324,591. Insiders own 0.08% of the company's stock.

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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