OFI Invest Asset Management Invests $37.62 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

OFI Invest Asset Management bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 253,581 shares of the wireless technology company’s stock, valued at approximately $37,620,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of QUALCOMM by 1.7% during 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 acquiring an additional 870,814 shares during the period. Geode Capital Management LLC boosted its stake in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Amundi grew its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Bank of New York Mellon Corp increased its position in QUALCOMM by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after buying an additional 193,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after buying an additional 498,284 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $161.22 on Friday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The business’s fifty day moving average is $164.76 and its 200 day moving average is $165.09. 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 cap of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM 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 completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,045 shares of company stock valued at $7,752,423. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of several analyst reports. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Finally, 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently 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.