CX Institutional Buys 10,299 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

CX Institutional raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 41.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 35,259 shares of the wireless technology company’s stock after acquiring an additional 10,299 shares during the period. CX Institutional’s holdings in QUALCOMM were worth $5,417,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of QCOM. Fred Alger Management LLC boosted its position in QUALCOMM by 5.8% in the second quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after purchasing an additional 3,078 shares during the last quarter. APG Asset Management US Inc. boosted its holdings in shares of QUALCOMM by 14.1% in the 2nd quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company’s stock worth $78,035,000 after buying an additional 48,179 shares during the last quarter. Employees Retirement System of Texas bought a new position in QUALCOMM during the second quarter valued at about $9,326,000. Drucker Wealth 3.0 LLC purchased a new stake in QUALCOMM during the second quarter worth about $1,431,000. Finally, Delta Investment Management LLC boosted its stake in QUALCOMM by 7.2% in the second quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company’s stock valued at $565,000 after acquiring an additional 191 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction 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 owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on QCOM. Evercore ISI lifted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Check Out Our Latest Stock Report on QCOM

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $173.22 on Friday. The business’s 50-day moving average price is $159.05 and its 200-day moving average price is $168.04. The firm has a market capitalization of $192.45 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

QUALCOMM Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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