APG Asset Management US Inc. Purchases 992 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

APG Asset Management US Inc. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,068 shares of the wireless technology company’s stock after purchasing an additional 992 shares during the quarter. APG Asset Management US Inc.’s holdings in QUALCOMM were worth $5,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $2,721,882,000. Amundi grew its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $527,053,000. Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock worth $1,158,654,000 after buying an additional 709,644 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,018 shares of company stock valued at $4,955,613 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Down 3.9 %

Shares of QUALCOMM stock opened at $124.66 on Wednesday. The company has a 50-day moving average of $159.04 and a two-hundred day moving average of $162.17. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market cap of $137.87 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.73%. QUALCOMM’s payout ratio is presently 36.32%.

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.