QRG Capital Management Inc. Acquires 68,496 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

QRG Capital Management Inc. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.8% during the 4th quarter, HoldingsChannel reports. The fund owned 369,465 shares of the wireless technology company’s stock after buying an additional 68,496 shares during the period. QUALCOMM accounts for approximately 0.6% of QRG Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. QRG Capital Management Inc.’s holdings in QUALCOMM were worth $56,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in QUALCOMM by 1,702.6% in the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC raised its holdings in QUALCOMM by 7.9% in 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 buying an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Two Sigma Advisers LP raised its holdings in QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after buying an additional 1,380,500 shares during the last quarter. Finally, State Street Corp raised its holdings 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 worth $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on QCOM. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

QCOM opened at $162.10 on Thursday. The firm has a market cap of $179.28 billion, a P/E ratio of 17.32, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a 50 day simple moving average of $164.77 and a two-hundred day simple moving average of $165.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by insiders.

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.