Mediolanum International Funds Ltd Has $39.98 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Mediolanum International Funds Ltd boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,283 shares of the wireless technology company’s stock after purchasing an additional 66,340 shares during the period. Mediolanum International Funds Ltd’s holdings in QUALCOMM were worth $39,982,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at $27,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup reduced their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $171.93 on Friday. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market cap of $191.01 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.85 and a beta of 1.25. The stock’s 50-day simple moving average is $160.11 and its 200 day simple moving average is $166.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

QUALCOMM Company 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.