TD Asset Management Inc Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• TD Asset Management Inc increased its stake in QUALCOMM by 0.5%, holding over 2 million shares valued at approximately $321.7 million as of the latest SEC filing.
• Several institutional investors have also significantly increased their positions in QUALCOMM, with OVERSEA CHINESE BANKING Corp raising its stake by 565% in the first quarter.
• QUALCOMM is facing mixed analyst ratings, with recent price targets ranging from $140 to $250, highlighting a spectrum of market expectations for the company's performance.

TD Asset Management Inc grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,094,454 shares of the wireless technology company's stock after buying an additional 10,072 shares during the quarter. TD Asset Management Inc owned 0.19% of QUALCOMM worth $321,729,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of QCOM. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. PFG Advisors grew its stake in shares of QUALCOMM by 8.0% during the 1st quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock worth $663,000 after purchasing an additional 321 shares during the period. Teza Capital Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of QUALCOMM by 3.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after purchasing an additional 6,017 shares during the period. Finally, Kanawha Capital Management LLC grew its stake in shares of QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock worth $13,120,000 after purchasing an additional 1,573 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird lowered their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. UBS Group upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. TD Cowen lowered their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen raised shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $184.86.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction 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. The trade was 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 worth $8,310,735 in the last three months. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $158.40 on Friday. The firm has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company's 50-day moving average is $154.60 and its two-hundred day moving average is $155.03. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results 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. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's payout ratio is currently 36.25%.

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.

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