Prudential PLC Acquires 5,869 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prudential PLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,417 shares of the wireless technology company’s stock after acquiring an additional 5,869 shares during the quarter. Prudential PLC’s holdings in QUALCOMM were worth $18,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Gilbert & Cook Inc. raised its stake in shares of QUALCOMM by 7.3% during the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after acquiring an additional 356 shares in the last quarter. Gryphon Financial Partners LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $334,000. AlphaStar Capital Management LLC raised its holdings in shares of QUALCOMM by 72.4% in the fourth quarter. AlphaStar Capital Management LLC now owns 5,385 shares of the wireless technology company’s stock valued at $779,000 after acquiring an additional 2,261 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in QUALCOMM by 11.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 58,279 shares of the wireless technology company’s stock worth $8,429,000 after acquiring an additional 5,860 shares during the period. Finally, Ieq Capital LLC grew its holdings in QUALCOMM by 37.5% during the 4th quarter. Ieq Capital LLC now owns 42,506 shares of the wireless technology company’s stock worth $6,148,000 after acquiring an additional 11,585 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QCOM. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Rosenblatt Securities boosted their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 3rd. Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $159.58 on Monday. The firm has a market cap of $177.77 billion, a PE ratio of 21.26, a P/E/G ratio of 1.74 and a beta of 1.28. The business has a 50-day moving average price of $179.95 and a 200 day moving average price of $181.76. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Sell-side analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is 45.70%.

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.