Swiss National Bank lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,133,500 shares of the wireless technology company's stock after selling 13,600 shares during the quarter. Swiss National Bank owned about 0.29% of QUALCOMM worth $481,337,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of QUALCOMM by 20,700.4% in the first 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 in the last quarter. Northern Trust Corp raised its stake in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 17.0% in the fourth 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 period. Goldman Sachs Group Inc. grew its position in QUALCOMM by 24.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company's stock valued at $1,114,403,000 after buying an additional 1,407,797 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in QUALCOMM in the 4th quarter valued at about $204,085,000. Institutional investors own 74.35% of the company's stock.
QUALCOMM Stock Up 0.0%
Shares of NASDAQ:QCOM opened at $145.90 on Friday. The firm has a 50 day simple moving average of $155.03 and a 200 day simple moving average of $154.45. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The company has a market cap of $157.43 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.13 and a beta of 1.23.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (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 analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
QUALCOMM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 34.33%.
Insider Activity
In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company'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 value of $537,546.24. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was 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. Insiders have sold 424,099 shares of company stock worth $8,352,355 in the last 90 days. Company insiders own 0.08% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on QCOM shares. Rosenblatt Securities reissued a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, July 31st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Mizuho decreased their price target on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Finally, Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $181.10.
View Our Latest Stock Analysis on QCOM
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.
Further Reading
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