Pictet Asset Management Holding SA Has $120.78 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pictet Asset Management Holding SA lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 43.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 786,235 shares of the wireless technology company’s stock after acquiring an additional 239,130 shares during the period. Pictet Asset Management Holding SA’s holdings in QUALCOMM were worth $120,781,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. TBH Global Asset Management LLC grew its position in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares in the last quarter. PDS Planning Inc grew its position in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares in the last quarter. Toth Financial Advisory Corp increased its stake in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares during the period. CFS Investment Advisory Services LLC raised its holdings in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC raised its holdings in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $152.72 on Friday. The business has a 50-day moving average of $164.16 and a 200-day moving average of $163.82. 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 company has a market capitalization of $168.91 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

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

QUALCOMM Dividend Announcement

The firm also recently declared 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 was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s payout ratio is currently 36.32%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.