IFM Investors Pty Ltd Acquires 28,711 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

IFM Investors Pty Ltd increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 19.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,701 shares of the wireless technology company’s stock after purchasing an additional 28,711 shares during the period. IFM Investors Pty Ltd’s holdings in QUALCOMM were worth $27,156,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nepsis Inc. boosted its stake in QUALCOMM by 27.3% in the first quarter. Nepsis Inc. now owns 117,315 shares of the wireless technology company’s stock valued at $17,928,000 after acquiring an additional 25,137 shares in the last quarter. Perkins Coie Trust Co boosted its stake in QUALCOMM by 2.2% in the first quarter. Perkins Coie Trust Co now owns 44,092 shares of the wireless technology company’s stock valued at $6,738,000 after acquiring an additional 934 shares in the last quarter. Kowal Investment Group LLC acquired a new stake in QUALCOMM in the first quarter valued at approximately $200,000. Atticus Wealth Management LLC boosted its stake in QUALCOMM by 410.6% in the first quarter. Atticus Wealth Management LLC now owns 1,690 shares of the wireless technology company’s stock valued at $258,000 after acquiring an additional 1,359 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV boosted its stake in QUALCOMM by 11.8% in the first quarter. Pennsylvania Capital Management Inc. ADV now owns 1,900 shares of the wireless technology company’s stock valued at $290,000 after acquiring an additional 200 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 0.9 %

Shares of NASDAQ QCOM opened at $145.06 on Monday. The firm has a market cap of $162.47 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. QUALCOMM Incorporated has a 52-week low of $118.22 and a 52-week high of $193.58. The company’s 50-day simple moving average is $135.71 and its 200-day simple moving average is $148.03. The company has a quick ratio of 1.27, a current ratio of 1.61 and a debt-to-equity ratio of 0.91.

QUALCOMM (NASDAQ:QCOMGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.44. The firm had revenue of $10.93 billion for the quarter, compared to analyst estimates of $10.85 billion. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. QUALCOMM’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 11.05 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s payout ratio is presently 30.71%.

Insider Buying and Selling

In related news, CAO Erin L. Polek sold 1,521 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on QCOM shares. Barclays lowered their target price on shares of QUALCOMM from $185.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Tigress Financial raised their price target on shares of QUALCOMM from $195.00 to $238.00 in a report on Thursday, May 5th. Susquehanna Bancshares decreased their price target on shares of QUALCOMM from $190.00 to $165.00 in a report on Thursday, April 28th. Raymond James decreased their price target on shares of QUALCOMM from $222.00 to $190.00 and set a “maintains” rating for the company in a report on Thursday. Finally, DZ Bank cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $150.00 price target for the company. in a report on Friday. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $191.69.

QUALCOMM Company Profile

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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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