Vinva Investment Management Ltd Purchases 30,396 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vinva Investment Management Ltd boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 57.3% during the 4th quarter, Holdings Channel reports. The firm owned 83,470 shares of the wireless technology company’s stock after buying an additional 30,396 shares during the quarter. Vinva Investment Management Ltd’s holdings in QUALCOMM were worth $12,903,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Bank of Marin lifted its stake in QUALCOMM by 46.9% in the 4th quarter. Bank of Marin now owns 2,975 shares of the wireless technology company’s stock worth $457,000 after purchasing an additional 950 shares in the last quarter. North Forty Two & Co. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $808,000. Brooklyn FI LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $389,000. Xponance Inc. raised its position in shares of QUALCOMM by 1.9% during the 4th quarter. Xponance Inc. now owns 286,752 shares of the wireless technology company’s stock valued at $44,051,000 after buying an additional 5,236 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $12,302,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 1.1 %

QCOM stock opened at $156.29 on Wednesday. The stock has a market capitalization of $172.86 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. The firm has a 50-day simple moving average of $164.56 and a 200-day simple moving average of $164.19. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.18%. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

Several brokerages have recently issued reports on QCOM. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Barclays dropped their target price 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. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.