Great Lakes Retirement Inc. Has $3.17 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Great Lakes Retirement Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 65.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,647 shares of the wireless technology company’s stock after buying an additional 7,406 shares during the quarter. Great Lakes Retirement Inc.’s holdings in QUALCOMM were worth $3,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Legal & General Group Plc increased its holdings in shares of QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter valued at about $1,171,516,000. Van ECK Associates Corp raised its position in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of QUALCOMM by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock worth $588,639,000 after buying an additional 26,187 shares during the period. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on QCOM shares. Cantor Fitzgerald lowered their price target on shares of QUALCOMM from $215.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $166.60 on Thursday. The firm has a market cap of $185.93 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm’s fifty day moving average is $169.30 and its 200-day moving average is $182.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares of the company’s stock, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the completion of the sale, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the transaction, the chief technology officer now owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,245 shares of company stock worth $3,679,407 over the last quarter. Company 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.