68,721 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Allianz SE

Allianz SE bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 68,721 shares of the wireless technology company’s stock, valued at approximately $10,620,000.

Several other hedge funds also recently modified their holdings of the business. Cambridge Financial Group Inc. bought a new position in QUALCOMM during the fourth quarter valued at about $6,292,000. Mechanics Financial Corp raised its stake in shares of QUALCOMM by 46.7% in the 4th quarter. Mechanics Financial Corp now owns 1,364 shares of the wireless technology company’s stock valued at $210,000 after acquiring an additional 434 shares in the last quarter. Accent Capital Management LLC grew its holdings in QUALCOMM by 86.7% during the fourth quarter. Accent Capital Management LLC now owns 8,378 shares of the wireless technology company’s stock valued at $1,287,000 after purchasing an additional 3,891 shares during the last quarter. Beutel Goodman & Co Ltd. increased its stake in shares of QUALCOMM by 18.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,441,570 shares of the wireless technology company’s stock worth $375,074,000 after purchasing an additional 381,380 shares during the period. Finally, Allstate Corp bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $5,055,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several analyst reports. Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 3.3 %

Shares of QUALCOMM stock opened at $152.72 on Friday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock’s 50-day moving average is $164.16 and its 200 day moving average is $163.82. The firm has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.