World Investment Advisors Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

World Investment Advisors raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,157 shares of the wireless technology company's stock after buying an additional 1,629 shares during the period. World Investment Advisors' holdings in QUALCOMM were worth $8,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC grew its position in shares of 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 during the period. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi lifted its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp raised its stake 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 worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 0.1%

QCOM stock traded down $0.22 during trading on Friday, reaching $162.11. 4,280,773 shares of the company traded hands, compared to its average volume of 8,546,883. 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 company has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The business has a 50 day simple moving average of $151.32 and a 200 day simple moving average of $154.93. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given 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 2.20%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCOM. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI decreased their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Finally, Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction 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 owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction 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 position. The disclosure for this sale can be found here. Insiders sold 425,016 shares of company stock worth $8,437,440 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.