Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,637 shares of the wireless technology company’s stock after buying an additional 5,820 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in QUALCOMM were worth $28,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management boosted its holdings in QUALCOMM by 3.5% in the third quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock worth $4,957,000 after purchasing an additional 991 shares during the last quarter. CWM LLC lifted its holdings in shares of QUALCOMM by 2.7% during the 3rd quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock valued at $21,156,000 after buying an additional 3,264 shares during the period. Marcum Wealth LLC boosted its stake in shares of QUALCOMM by 8.6% in the 3rd quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock worth $430,000 after buying an additional 200 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of QUALCOMM by 7.2% in the third quarter. Wedmont Private Capital now owns 10,946 shares of the wireless technology company’s stock worth $1,827,000 after acquiring an additional 738 shares during the period. Finally, Patten Group Inc. increased its position in QUALCOMM by 3.1% during the third quarter. Patten Group Inc. now owns 14,172 shares of the wireless technology company’s stock valued at $2,410,000 after acquiring an additional 424 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 3.7 %

Shares of QCOM opened at $169.32 on Friday. The business’s 50 day simple moving average is $161.70 and its 200-day simple moving average is $166.02. QUALCOMM Incorporated has a 1 year low of $143.63 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market capitalization of $188.11 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released 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 net margin of 26.03% and a return on equity of 38.81%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.16 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, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock valued at $4,000,870 over the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

QCOM has been the topic of several research reports. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday. One 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.