QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,523 shares of the wireless technology company’s stock after purchasing an additional 318 shares during the quarter. Legacy Capital Group California Inc.’s holdings in QUALCOMM were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC grew its position in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after acquiring an additional 498,284 shares during the period. Van ECK Associates Corp lifted its position in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after purchasing an additional 110,828 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock worth $7,583,661 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.9 %

Shares of QCOM opened at $173.70 on Friday. The business’s 50-day moving average price is $164.32 and its 200 day moving average price is $165.67. 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 capitalization of $192.11 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.03 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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 expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. QUALCOMM’s payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

About QUALCOMM

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.