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SFE Investment Counsel Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

QUALCOMM logo with Computer and Technology background

SFE Investment Counsel lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,374 shares of the wireless technology company's stock after buying an additional 6,036 shares during the period. QUALCOMM comprises about 2.8% of SFE Investment Counsel's investment portfolio, making the stock its 4th largest holding. SFE Investment Counsel's holdings in QUALCOMM were worth $14,036,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $2,721,882,000. GAMMA Investing LLC increased its holdings in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after buying an additional 3,247,068 shares during the last quarter. Northern Trust Corp raised its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in QUALCOMM by 17.0% during 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 acquiring an additional 1,424,106 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in QUALCOMM in the fourth quarter valued at $204,085,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 0.3%

QUALCOMM stock traded down $0.44 during trading hours on Friday, hitting $158.40. The stock had a trading volume of 4,805,669 shares, compared to its average volume of 7,220,092. The business's 50 day simple moving average is $154.60 and its 200-day simple moving average is $155.03. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.64. The stock has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.05 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 (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 2.25%. QUALCOMM's payout ratio is 36.25%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Wells Fargo & Company cut 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. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Loop Capital cut their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI reduced 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. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average target price of $184.86.

Check Out Our Latest Analysis on QUALCOMM

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 over the last three months. Company insiders own 0.08% of the company's stock.

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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