Meeder Advisory Services Inc. purchased a new stake in Qualcomm Incorporated (NASDAQ:QCOM – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,820 shares of the wireless technology company’s stock, valued at approximately $4,032,000.
Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Qualcomm in the second quarter valued at approximately $17,583,115,000. Norges Bank acquired a new position in shares of Qualcomm in the 4th quarter worth approximately $2,591,056,000. Bank of New York Mellon Corp bought a new stake in Qualcomm during the 2nd quarter worth approximately $1,523,930,000. Deutsche Bank AG bought a new stake in Qualcomm during the 2nd quarter worth approximately $1,178,349,000. Finally, Wellington Management Group LLP increased its holdings in Qualcomm by 34.5% during the 4th quarter. Wellington Management Group LLP now owns 16,727,862 shares of the wireless technology company’s stock valued at $2,861,301,000 after purchasing an additional 4,290,622 shares in the last quarter. 74.35% of the stock is owned by institutional investors.
Qualcomm Stock Performance
QCOM stock opened at $160.74 on Friday. The company has a 50 day moving average price of $179.28 and a 200 day moving average price of $168.07. Qualcomm Incorporated has a fifty-two week low of $121.99 and a fifty-two week high of $259.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.02 and a quick ratio of 1.28. The stock has a market capitalization of $168.81 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 14.95 and a beta of 1.65.
Qualcomm Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 3rd will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s dividend payout ratio is 42.59%.
Analysts Set New Price Targets
Several equities analysts have issued reports on QCOM shares. Benchmark cut their price objective on Qualcomm from $300.00 to $270.00 and set a “buy” rating for the company in a research report on Monday, July 27th. Raymond James Financial began coverage on Qualcomm in a report on Thursday, June 25th. They set a “strong-buy” rating on the stock. HSBC restated a “hold” rating on shares of Qualcomm in a research note on Wednesday, July 15th. Mizuho lifted their price target on Qualcomm from $170.00 to $210.00 and gave the company a “neutral” rating in a report on Monday, June 29th. Finally, TD Cowen reduced their price target on shares of Qualcomm from $225.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twenty have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $203.63.
Get Our Latest Stock Report on Qualcomm
Insider Activity
In other Qualcomm news, EVP Akash J. Palkhiwala sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $163.26, for a total transaction of $408,150.00. Following the completion of the sale, the executive vice president directly owned 20,684 shares of the company’s stock, valued at approximately $3,376,869.84. The trade was a 10.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Heather S. Ace sold 3,200 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $147.04, for a total transaction of $470,528.00. Following the transaction, the executive vice president owned 36,535 shares in the company, valued at approximately $5,372,106.40. The trade was a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,700 shares of company stock worth $1,824,078. 0.05% of the stock is owned by company insiders.
Qualcomm Profile
Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.
The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.
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