OFI Invest Asset Management Makes New $37.62 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

OFI Invest Asset Management bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 253,581 shares of the wireless technology company’s stock, valued at approximately $37,620,000.

A number of other large investors also recently added to or reduced their stakes in the business. Axis Wealth Partners LLC purchased a new position in QUALCOMM in the 4th quarter worth about $460,000. United Community Bank boosted its position in QUALCOMM by 14.6% in the fourth quarter. United Community Bank now owns 4,102 shares of the wireless technology company’s stock valued at $630,000 after buying an additional 524 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in QUALCOMM by 38.3% during the fourth quarter. Personal CFO Solutions LLC now owns 9,570 shares of the wireless technology company’s stock worth $1,470,000 after acquiring an additional 2,648 shares during the period. Atlantic Union Bankshares Corp raised its position in shares of QUALCOMM by 0.9% in the fourth quarter. Atlantic Union Bankshares Corp now owns 95,051 shares of the wireless technology company’s stock worth $14,602,000 after acquiring an additional 875 shares during the period. Finally, Amundi grew its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $161.22 on Friday. 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 stock has a market cap of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average price of $164.76 and a 200 day moving average price of $165.09. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently owned by insiders.

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.