Massachusetts Financial Services Co. MA Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Financial Services Co. MA increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,495,358 shares of the wireless technology company's stock after purchasing an additional 17,829 shares during the period. Massachusetts Financial Services Co. MA owned about 0.14% of QUALCOMM worth $229,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $2,721,882,000. GAMMA Investing LLC boosted 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 valued at $501,192,000 after buying an additional 3,247,068 shares during the period. Northern Trust Corp boosted its stake 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 buying an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 1,424,106 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of QUALCOMM during 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

Several brokerages recently commented on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wells Fargo & Company dropped their target price on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of "Hold" and an average price target of $186.00.

QUALCOMM Stock Performance

QCOM traded up $2.58 during midday trading on Friday, reaching $155.19. The company had a trading volume of 2,925,112 shares, compared to its average volume of 8,471,804. The business has a 50-day moving average price of $153.76 and a two-hundred day moving average price of $154.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $196.24. The stock has a market cap of $170.39 billion, a PE ratio of 15.81, a P/E/G ratio of 1.99 and a beta of 1.26.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.29%. QUALCOMM's payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction dated 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is currently owned by corporate insiders.

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.