Sphera Management Technology Funds Ltd Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sphera Management Technology Funds Ltd bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,780 shares of the wireless technology company's stock, valued at approximately $2,117,000. QUALCOMM comprises 1.2% of Sphera Management Technology Funds Ltd's investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $29,000. Finally, CoreFirst Bank & Trust acquired a new stake in QUALCOMM during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The sale 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 business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now directly owns 53,112 shares of the company's stock, valued at $7,423,464.24. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,312 shares of company stock worth $1,948,379. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. 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. Finally, Loop Capital decreased their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Stock Down 0.1%

QCOM opened at $152.50 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm's fifty day moving average price is $145.94 and its two-hundred day moving average price is $156.80. The company has a market capitalization of $167.45 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 EPS. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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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