SYM FINANCIAL Corp Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

SYM FINANCIAL Corp bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,796 shares of the wireless technology company's stock, valued at approximately $276,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at about $2,721,882,000. Northern Trust Corp increased its position in QUALCOMM by 12.7% in 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 acquiring an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in QUALCOMM by 17.0% in 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 acquiring an additional 1,424,106 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in QUALCOMM by 10.4% in the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock valued at $1,158,654,000 after acquiring an additional 709,644 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% 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, CFO Akash J. Palkhiwala sold 3,333 shares of the business'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 completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% 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 valued at $8,310,735 over the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $1.04 during mid-day trading on Thursday, reaching $158.84. The company had a trading volume of 5,007,384 shares, compared to its average volume of 7,283,261. 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 one year low of $120.80 and a one year high of $182.64. The firm has a market cap of $174.41 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 2.06 and a beta of 1.26. The business's 50-day simple moving average is $154.48 and its 200 day simple moving average is $155.04.

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

QUALCOMM Announces Dividend

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 paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Bank of America dropped their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research note on Thursday, May 1st. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $184.86.

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.