Meitav Dash Investments Ltd. Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Meitav Dash Investments Ltd. grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 4.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 54,892 shares of the wireless technology company’s stock after acquiring an additional 2,301 shares during the period. Meitav Dash Investments Ltd.’s holdings in QUALCOMM were worth $8,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in QCOM. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter worth $2,266,923,000. BlackRock Inc. boosted its position in shares of QUALCOMM by 4.3% in the 4th quarter. BlackRock Inc. now owns 81,379,537 shares of the wireless technology company’s stock worth $14,881,876,000 after buying an additional 3,319,939 shares in the last quarter. Capital International Investors boosted its position in shares of QUALCOMM by 63.2% in the 4th quarter. Capital International Investors now owns 6,843,216 shares of the wireless technology company’s stock worth $1,251,413,000 after buying an additional 2,648,829 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of QUALCOMM by 37.2% in the 4th quarter. Nuveen Asset Management LLC now owns 8,468,283 shares of the wireless technology company’s stock worth $1,548,596,000 after buying an additional 2,294,400 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of QUALCOMM by 10.6% in the 4th quarter. Alliancebernstein L.P. now owns 20,174,284 shares of the wireless technology company’s stock worth $3,689,271,000 after buying an additional 1,934,339 shares in the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $205.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. DZ Bank lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price objective on the stock. in a research report on Friday, July 29th. Susquehanna cut their target price on shares of QUALCOMM from $190.00 to $165.00 in a research note on Thursday, April 28th. Cowen set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of QUALCOMM from $190.00 to $170.00 in a research note on Wednesday, July 20th. Ten equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.35.

QUALCOMM Stock Down 0.5 %

Shares of NASDAQ:QCOM opened at $150.21 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.61. QUALCOMM Incorporated has a 1 year low of $118.22 and a 1 year high of $193.58. The stock has a market capitalization of $168.69 billion, a P/E ratio of 13.30, a PEG ratio of 0.87 and a beta of 1.22. The stock has a 50-day simple moving average of $137.27 and a 200-day simple moving average of $147.29.

QUALCOMM (NASDAQ:QCOMGet Rating) last issued its earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. QUALCOMM had a return on equity of 95.77% and a net margin of 30.52%. The business had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the previous year, the business earned $1.66 EPS. The company’s revenue for the quarter was up 36.7% on a year-over-year basis. Equities analysts forecast that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, August 31st. QUALCOMM’s payout ratio is currently 26.57%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.

About QUALCOMM

(Get Rating)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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