Handelsbanken Fonder AB Has $76.64 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Handelsbanken Fonder AB increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $27,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the third quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.9 %

Shares of QCOM opened at $175.22 on Thursday. The company has a market capitalization of $193.79 billion, a P/E ratio of 18.72, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The business’s 50 day simple moving average is $164.01 and its 200-day simple moving average is $165.61. 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 announced its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,964 shares of company stock valued at $7,583,661 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.