IPG Investment Advisors LLC Acquires 468 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

IPG Investment Advisors LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 6.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,956 shares of the wireless technology company’s stock after buying an additional 468 shares during the quarter. IPG Investment Advisors LLC’s holdings in QUALCOMM were worth $1,151,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Norges Bank acquired a new position in QUALCOMM in the 4th quarter worth about $2,507,978,000. International Assets Investment Management LLC increased its holdings in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. increased its holdings in QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Barclays PLC increased its holdings in QUALCOMM by 53.6% in the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after buying an additional 1,253,173 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 4.3 %

Shares of QCOM stock traded up $8.60 during trading hours on Monday, reaching $210.36. The company had a trading volume of 13,809,900 shares, compared to its average volume of 8,749,592. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $211.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business has a fifty day simple moving average of $175.50 and a 200-day simple moving average of $155.49. The company has a market cap of $234.76 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts expect that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,074 shares of company stock worth $12,258,386. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Mizuho increased their price target on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HSBC increased their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Bank of America increased their price target on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $180.48.

Get Our Latest Analysis on QCOM

About QUALCOMM

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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