Bellevue Group AG Buys 170 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bellevue Group AG raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 49.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517 shares of the wireless technology company’s stock after buying an additional 170 shares during the period. Bellevue Group AG’s holdings in QUALCOMM were worth $88,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Price T Rowe Associates Inc. MD raised its position in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth approximately $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM during the 1st quarter worth approximately $1,171,516,000. Putnam Investments LLC grew its holdings in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after acquiring an additional 263,482 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in QUALCOMM by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after acquiring an additional 259,403 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.3 %

NASDAQ QCOM traded down $0.55 on Monday, reaching $179.50. The company had a trading volume of 3,112,244 shares, compared to its average volume of 9,144,632. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company’s fifty day moving average is $204.19 and its 200 day moving average is $177.53. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market capitalization of $200.32 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.19 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

QCOM has been the topic of a number of analyst reports. Morgan Stanley upped their price target on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Bank of America upped their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. HSBC downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Finally, Piper Sandler upped their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $199.63.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the transaction, the chief financial officer now owns 66,343 shares in the company, valued at approximately $11,987,516.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $180.69, for a total value of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares in the company, valued at $11,987,516.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by company insiders.

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.