Susquehanna Fundamental Investments LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Susquehanna Fundamental Investments LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 162,964 shares of the wireless technology company’s stock, valued at approximately $25,035,000.

Several other hedge funds and other institutional investors also recently modified their holdings of QCOM. Vanguard Group Inc. raised its stake in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its position in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after buying an additional 670,432 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after acquiring an additional 193,236 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $201.21.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,666 shares of company stock valued at $5,047,052. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.9 %

NASDAQ:QCOM opened at $148.56 on Friday. The firm has a fifty day simple moving average of $150.11 and a two-hundred day simple moving average of $159.51. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock has a market capitalization of $164.31 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

QUALCOMM 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.