Vanguard Group Inc. Purchases 707,468 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vanguard Group Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 113,730,186 shares of the wireless technology company’s stock after acquiring an additional 707,468 shares during the period. Vanguard Group Inc. owned 0.10% of QUALCOMM worth $17,471,231,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter worth about $29,000. Synergy Asset Management LLC bought a new position in QUALCOMM in the fourth quarter worth about $38,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM in the third quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on QCOM shares. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Down 0.7 %

Shares of QCOM stock opened at $156.82 on Friday. The stock has a 50 day simple moving average of $164.51 and a 200-day simple moving average of $163.98. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-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 company has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted 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 25.94% and a return on equity of 39.51%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.