Raiffeisen Bank International AG Has $3.07 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Raiffeisen Bank International AG increased its stake in QUALCOMM Incorporated by 35.4%, owning 20,054 shares valued at approximately $3.07 million at the end of the last quarter.
• QUALCOMM's recent earnings report showed $2.77 earnings per share for the last quarter, surpassing expectations, along with revenue growth of 10.4% year-over-year, totaling $10.37 billion.
• The company declared a quarterly dividend of $0.89 per share, scheduled for payment on September 25th, resulting in an annualized yield of 2.4%.

Raiffeisen Bank International AG grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,054 shares of the wireless technology company's stock after purchasing an additional 5,246 shares during the quarter. Raiffeisen Bank International AG's holdings in QUALCOMM were worth $3,067,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Blair William & Co. IL raised its stake in shares of QUALCOMM by 79.8% in the 1st quarter. Blair William & Co. IL now owns 649,673 shares of the wireless technology company's stock valued at $99,796,000 after purchasing an additional 288,257 shares in the last quarter. Argent Trust Co raised its stake in shares of QUALCOMM by 2.4% in the 1st quarter. Argent Trust Co now owns 88,466 shares of the wireless technology company's stock valued at $13,589,000 after purchasing an additional 2,058 shares in the last quarter. Manchester Capital Management LLC raised its stake in shares of QUALCOMM by 0.5% in the 1st quarter. Manchester Capital Management LLC now owns 24,169 shares of the wireless technology company's stock valued at $3,713,000 after purchasing an additional 129 shares in the last quarter. Delta Financial Group Inc. grew its position in shares of QUALCOMM by 4.2% during the 1st quarter. Delta Financial Group Inc. now owns 4,079 shares of the wireless technology company's stock valued at $653,000 after buying an additional 165 shares during the last quarter. Finally, Scotia Capital Inc. grew its position in shares of QUALCOMM by 1.6% during the 1st quarter. Scotia Capital Inc. now owns 131,368 shares of the wireless technology company's stock valued at $20,179,000 after buying an additional 2,121 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Finally, TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $181.10.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,352,355 in the last ninety days. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.75 during trading hours on Tuesday, reaching $146.76. 1,602,119 shares of the stock were exchanged, compared to its average volume of 8,487,081. The company has a market cap of $158.36 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The stock has a 50 day moving average of $155.15 and a two-hundred day moving average of $154.70.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the company posted $2.33 EPS. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM's dividend payout ratio (DPR) is currently 34.33%.

About QUALCOMM

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.