QUALCOMM Incorporated (NASDAQ:QCOM) Position Increased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 109.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 925 shares of the wireless technology company’s stock after acquiring an additional 483 shares during the period. Itau Unibanco Holding S.A.’s holdings in QUALCOMM were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $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 valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $527,053,000. Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in QUALCOMM by 525.5% during the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company’s stock worth $217,141,000 after purchasing an additional 1,187,531 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Susquehanna decreased their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday. Finally, TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $194.11.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 648 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the sale, the chief financial officer now owns 56,445 shares in the company, valued at approximately $7,964,953.95. This represents a 1.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,666 shares of company stock valued at $5,047,052 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 8.9 %

NASDAQ QCOM opened at $135.21 on Friday. 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 Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm’s fifty day simple moving average is $148.16 and its 200-day simple moving average is $158.76. The company has a market capitalization of $149.54 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. 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 yield of 2.63%. QUALCOMM’s payout ratio is 36.25%.

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.