Tredje AP fonden Acquires 222,720 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Tredje AP fonden has increased its holdings in QUALCOMM Incorporated by 76.3%, acquiring an additional 222,720 shares, bringing its total to 514,692 shares valued at approximately $79 million.
• Various institutional investors, including GAMMA Investing LLC and Northern Trust Corp, have significantly increased their stakes in QUALCOMM, with institutional ownership now at 74.35% of the company's stock.
• QUALCOMM has announced a quarterly dividend of $0.89 per share, representing an annualized yield of 2.20%, with the ex-dividend date set for September 4th.

Tredje AP fonden increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 76.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 514,692 shares of the wireless technology company's stock after acquiring an additional 222,720 shares during the quarter. Tredje AP fonden's holdings in QUALCOMM were worth $79,062,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in QCOM. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after acquiring an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter worth approximately $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM 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 accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated 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 directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. This represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,324,591 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.43 during mid-day trading on Friday, reaching $148.19. 12,700,280 shares of the stock were exchanged, compared to its average volume of 8,540,689. The company has a market cap of $162.71 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.04 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 firm has a 50-day simple moving average of $155.05 and a 200 day simple moving average of $155.00. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.44%. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $2.33 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. QUALCOMM's dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several analysts have commented on QCOM shares. Piper Sandler decreased their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research report on Thursday. 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. Bank of America lowered their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen upgraded shares of QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average price target of $181.91.

QUALCOMM Company 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.