QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Optas LLC

Optas LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,643 shares of the wireless technology company’s stock after acquiring an additional 372 shares during the period. Optas LLC’s holdings in QUALCOMM were worth $867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. State Street Corp raised its position in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after acquiring an additional 498,284 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after purchasing an additional 110,828 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,981 shares of company stock worth $4,000,870 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.6 %

Shares of QCOM opened at $170.24 on Tuesday. The firm has a market cap of $189.14 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $141.21 and a fifty-two week high of $230.63. The firm has a 50 day moving average price of $160.76 and a 200-day moving average price of $166.19.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on QCOM shares. Barclays decreased their target price 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. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Citigroup lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $206.57.

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.