Handelsbanken Fonder AB Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Handelsbanken Fonder AB lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,338 shares of the wireless technology company’s stock after buying an additional 11,387 shares during the period. Handelsbanken Fonder AB’s holdings in QUALCOMM were worth $74,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM in the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA boosted its position in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after buying an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after buying an additional 1,519,781 shares during the period. Finally, Global Assets Advisory LLC purchased a new position in shares of QUALCOMM in the first quarter worth about $238,770,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares of the company’s stock, valued at approximately $8,535,970.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at $36,912,913.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $165.95, for a total value of $497,850.00. Following the transaction, the chief financial officer now owns 51,437 shares in the company, valued at $8,535,970.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,245 shares of company stock valued at $3,679,407 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded down $0.02 during midday trading on Friday, hitting $168.90. 6,588,668 shares of the company traded hands, compared to its average volume of 9,162,244. The company’s 50-day moving average is $168.00 and its 200 day moving average is $182.10. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $188.49 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.86 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, research analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 5th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent research reports. Barclays raised their price target on QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $215.00 price objective on shares of QUALCOMM in a research report on Thursday, August 1st. DZ Bank raised QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. Wolfe Research downgraded shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. Finally, Susquehanna increased their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $211.67.

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.