Handelsbanken Fonder AB Purchases 60,558 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Handelsbanken Fonder AB lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,896 shares of the wireless technology company’s stock after purchasing an additional 60,558 shares during the quarter. Handelsbanken Fonder AB’s holdings in QUALCOMM were worth $76,640,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on QCOM. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Morgan Stanley decreased their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.9 %

QCOM stock opened at $175.22 on Thursday. The business’s fifty day moving average price is $164.01 and its two-hundred day moving average price is $165.61. The stock has a market capitalization of $193.79 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week 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.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,964 shares of company stock worth $7,583,661 in the last 90 days. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

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.