AIA Group Ltd Buys 16,018 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AIA Group Ltd lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 290.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,525 shares of the wireless technology company's stock after purchasing an additional 16,018 shares during the quarter. AIA Group Ltd's holdings in QUALCOMM were worth $3,113,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of QCOM. Glass Jacobson Investment Advisors llc increased its stake in QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company's stock worth $161,000 after buying an additional 68 shares during the period. Chilton Capital Management LLC boosted its holdings in QUALCOMM by 1.9% in the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company's stock valued at $544,000 after purchasing an additional 70 shares during the last quarter. Means Investment CO. Inc. boosted its holdings in QUALCOMM by 1.2% in the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company's stock valued at $838,000 after purchasing an additional 71 shares during the last quarter. Marino Stram & Associates LLC grew its stake in QUALCOMM by 2.5% during the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company's stock valued at $430,000 after purchasing an additional 73 shares in the last quarter. Finally, Certified Advisory Corp raised its position in shares of QUALCOMM by 0.7% in the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company's stock valued at $1,770,000 after purchasing an additional 79 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm's stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares of the company's stock, valued at $4,843,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,360 shares of company stock valued at $7,184,678. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an "overweight" rating for the company in a research report on Thursday, February 1st. Cantor Fitzgerald upped their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, April 8th. Piper Sandler increased their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Citigroup lowered QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $156.90.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $2.88 on Thursday, hitting $161.44. The stock had a trading volume of 9,205,438 shares, compared to its average volume of 8,615,317. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company's 50-day moving average is $164.74 and its two-hundred day moving average is $142.33. The stock has a market cap of $180.17 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 2.30 and a beta of 1.41. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, analysts expect that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM's dividend payout ratio (DPR) is 46.38%.

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.