CW Advisors LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 23.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,862 shares of the wireless technology company’s stock after purchasing an additional 7,704 shares during the period. CW Advisors LLC’s holdings in QUALCOMM were worth $6,303,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock valued at $17,568,141,000 after purchasing an additional 638,284 shares in the last quarter. Northern Trust Corp lifted its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Invesco Ltd. lifted its position in shares of QUALCOMM by 2.2% during the 1st quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company’s stock valued at $1,512,458,000 after acquiring an additional 215,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in QUALCOMM by 11.2% during the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company’s stock worth $1,331,170,000 after purchasing an additional 875,412 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.
QUALCOMM Trading Up 2.5%
NASDAQ QCOM opened at $158.01 on Friday. The stock has a market cap of $170.49 billion, a P/E ratio of 15.24, a PEG ratio of 2.25 and a beta of 1.23. The company’s fifty day simple moving average is $155.64 and its 200-day simple moving average is $153.20. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.10.
QUALCOMM Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.3%. QUALCOMM’s payout ratio is 34.33%.
Analyst Upgrades and Downgrades
Several research firms recently commented on QCOM. Citigroup reiterated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, July 31st. Mizuho reduced their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Eleven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $181.10.
Get Our Latest Stock Report on QCOM
Insider Buying and Selling at QUALCOMM
In related news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider directly owned 21,193 shares of the company’s stock, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The transaction 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 dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer 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 have sold a total of 12,390 shares of company stock worth $1,874,817 over the last 90 days. Insiders own 0.08% of the company’s stock.
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.
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