Intech Investment Management LLC Acquires 20,412 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Intech Investment Management LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 49.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,797 shares of the wireless technology company’s stock after purchasing an additional 20,412 shares during the quarter. Intech Investment Management LLC’s holdings in QUALCOMM were worth $10,462,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Norges Bank purchased a new position in QUALCOMM in the 4th quarter worth approximately $2,507,978,000. Putnam Investments LLC increased its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of QUALCOMM by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock worth $913,752,000 after acquiring an additional 259,403 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 2.7 %

Shares of NASDAQ QCOM traded down $5.25 during trading on Friday, reaching $186.21. The company had a trading volume of 9,195,710 shares, compared to its average volume of 9,247,452. The business’s 50-day moving average is $204.79 and its 200 day moving average is $175.62. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $207.81 billion, a PE ratio of 25.03, a P/E/G ratio of 2.26 and a beta of 1.27. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 1.83%. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QCOM. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Tigress Financial lifted their price target on shares of QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Bank of America upped their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Cantor Fitzgerald upped their price target on shares of QUALCOMM from $190.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $197.54.

Insiders Place Their Bets

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of 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 can be accessed through the SEC website. In other news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,185 shares of company stock valued at $8,552,835. 0.08% of the stock is owned by insiders.

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.