Tredje AP fonden Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Tredje AP fonden grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,343 shares of the wireless technology company’s stock after acquiring 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 reporting period.

Several other institutional investors have also recently made changes to their positions in QCOM. Price T Rowe Associates Inc. MD lifted its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Putnam Investments LLC boosted its holdings in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after acquiring an additional 263,482 shares during the period. Van ECK Associates Corp grew its position in QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after purchasing an additional 173,673 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,595,760.00. Following the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock valued at $3,496,590. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. Mizuho boosted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Wells Fargo & Company raised their price objective on QUALCOMM from $140.00 to $170.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $168.70 on Wednesday. The stock has a 50 day moving average of $174.52 and a two-hundred day moving average of $182.15. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The firm has a market cap of $188.27 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s payout ratio is presently 45.70%.

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.