Victory Capital Management Inc. Has $350.89 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Victory Capital Management Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,284,267 shares of the wireless technology company's stock after purchasing an additional 200,864 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of QUALCOMM worth $350,886,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QCOM. Banque Transatlantique SA acquired a new stake in QUALCOMM in the 4th quarter worth $26,000. Atlantic Edge Private Wealth Management LLC grew its position in QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock worth $26,000 after purchasing an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter worth $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on QCOM. Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $186.00.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $2.00 during trading on Friday, reaching $154.61. The company had a trading volume of 3,474,286 shares, compared to its average volume of 8,473,490. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a market cap of $169.76 billion, a PE ratio of 15.75, a PEG ratio of 1.99 and a beta of 1.26. The business's 50 day moving average price is $153.76 and its 200-day moving average price is $154.96. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24.

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, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business'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 transaction of $220,384.00. Following the completion of the transaction, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Insiders own 0.08% of the company's stock.

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.