State of Tennessee Treasury Department Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

State of Tennessee Treasury Department raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 503,365 shares of the wireless technology company’s stock after acquiring an additional 42,636 shares during the period. State of Tennessee Treasury Department’s holdings in QUALCOMM were worth $72,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley grew its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,507,978,000. Northern Trust Corp grew its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after acquiring an additional 415,398 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after acquiring an additional 1,253,173 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 1.3 %

Shares of QCOM traded down $2.82 during trading hours on Friday, hitting $206.62. The stock had a trading volume of 5,714,393 shares, compared to its average volume of 9,729,759. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a market cap of $230.59 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.52 and a beta of 1.30. The company’s fifty day simple moving average is $183.44 and its 200 day simple moving average is $160.97. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $217.43.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. 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. This represents a $3.40 annualized dividend and a yield of 1.65%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. TD Cowen upped their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Robert W. Baird increased their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.74.

Get Our Latest Analysis on QCOM

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Profile

(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.

See Also

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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