Tredje AP fonden Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Tredje AP fonden boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,343 shares of the wireless technology company’s stock after purchasing an additional 13,700 shares during the quarter. Tredje AP fonden’s holdings in QUALCOMM were worth $26,559,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its stake in shares of QUALCOMM by 7.3% in the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after acquiring an additional 356 shares during the last quarter. Gryphon Financial Partners LLC bought a new stake in QUALCOMM during the 4th quarter valued at about $334,000. Hillsdale Investment Management Inc. raised its holdings in QUALCOMM by 27.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,312 shares of the wireless technology company’s stock worth $190,000 after buying an additional 280 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of QUALCOMM by 3.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 14,631 shares of the wireless technology company’s stock worth $2,116,000 after buying an additional 516 shares in the last quarter. Finally, Associated Banc Corp purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $248,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $168.70 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The stock’s 50-day simple moving average is $174.52 and its 200-day simple moving average is $182.15. The company has a market capitalization of $188.27 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. HSBC lowered shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, July 17th. Tigress Financial boosted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Susquehanna increased their price objective on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $211.67.

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.