Bell Asset Management Ltd increased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,651 shares of the wireless technology company's stock after purchasing an additional 5,576 shares during the period. QUALCOMM makes up approximately 2.0% of Bell Asset Management Ltd's holdings, making the stock its 12th biggest position. Bell Asset Management Ltd's holdings in QUALCOMM were worth $10,853,000 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. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,018 shares of company stock worth $4,955,613 in the last three months. 0.08% of the stock is owned by insiders.
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Analyst Upgrades and Downgrades
QCOM has been the subject of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $202.64.
Check Out Our Latest Stock Analysis on QUALCOMM
QUALCOMM Trading Down 6.4 %
QCOM stock traded down $9.23 during mid-day trading on Thursday, reaching $134.36. The company had a trading volume of 6,056,491 shares, compared to its average volume of 8,815,918. The firm has a 50 day moving average of $157.89 and a 200 day moving average of $161.88. The company has a market capitalization of $148.60 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.
QUALCOMM Company 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.
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