QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,798,900 shares of the wireless technology company’s stock after purchasing an additional 670,432 shares during the quarter. Geode Capital Management LLC’s holdings in QUALCOMM were worth $4,262,826,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. StoneX Group Inc. lifted its holdings in shares of QUALCOMM by 8.3% during the 4th quarter. StoneX Group Inc. now owns 22,488 shares of the wireless technology company’s stock worth $3,455,000 after acquiring an additional 1,714 shares during the period. Nemes Rush Group LLC raised its stake in QUALCOMM by 5.4% during the fourth quarter. Nemes Rush Group LLC now owns 95,929 shares of the wireless technology company’s stock worth $14,737,000 after purchasing an additional 4,877 shares during the period. Tradewinds LLC. acquired a new position in shares of QUALCOMM in the 4th quarter valued at $366,000. Mosaic Financial Group LLC increased its holdings in shares of QUALCOMM by 30.3% during the 4th quarter. Mosaic Financial Group LLC now owns 2,095 shares of the wireless technology company’s stock worth $322,000 after buying an additional 487 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in shares of QUALCOMM by 17.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 37,904 shares of the wireless technology company’s stock worth $5,823,000 after buying an additional 5,562 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $153.61 on Tuesday. QUALCOMM Incorporated has a one year low of $147.88 and a one year high of $230.63. The stock’s fifty day moving average is $163.94 and its 200-day moving average is $163.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $169.89 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on QCOM shares. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target 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.