Oslo Pensjonsforsikring AS acquired a new position in shares of Qualcomm Incorporated (NASDAQ:QCOM – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,612 shares of the wireless technology company’s stock, valued at approximately $723,000.
Several other institutional investors have also modified their holdings of QCOM. Basepoint Wealth LLC lifted its position in Qualcomm by 1.8% in the first quarter. Basepoint Wealth LLC now owns 3,333 shares of the wireless technology company’s stock valued at $429,000 after acquiring an additional 59 shares during the last quarter. Dakota Community Bank & Trust NA boosted its stake in Qualcomm by 3.6% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,847 shares of the wireless technology company’s stock valued at $316,000 after acquiring an additional 65 shares in the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of Qualcomm by 2.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 3,253 shares of the wireless technology company’s stock worth $556,000 after purchasing an additional 66 shares during the last quarter. S.A. Mason LLC grew its holdings in shares of Qualcomm by 5.9% during the fourth quarter. S.A. Mason LLC now owns 1,192 shares of the wireless technology company’s stock worth $204,000 after purchasing an additional 66 shares during the last quarter. Finally, Marion Wealth Management increased its position in shares of Qualcomm by 4.5% during the fourth quarter. Marion Wealth Management now owns 1,567 shares of the wireless technology company’s stock worth $244,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Qualcomm Stock Up 1.9%
QCOM opened at $173.50 on Wednesday. Qualcomm Incorporated has a 52 week low of $121.99 and a 52 week high of $259.92. The business has a 50 day moving average price of $205.54 and a two-hundred day moving average price of $168.38. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $182.87 billion, a PE ratio of 18.86, a P/E/G ratio of 5.05 and a beta of 1.63.
Qualcomm Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, September 3rd. Qualcomm’s payout ratio is currently 40.00%.
Insider Activity
In other news, EVP Heather S. Ace sold 3,200 shares of Qualcomm stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $177.82, for a total value of $569,024.00. Following the sale, the executive vice president owned 39,735 shares of the company’s stock, valued at $7,065,677.70. The trade was a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,721 shares of company stock valued at $4,044,465. 0.05% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on QCOM shares. Wells Fargo & Company boosted their target price on Qualcomm from $230.00 to $265.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Tigress Financial boosted their price objective on Qualcomm from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Qualcomm in a research note on Wednesday, June 24th. Royal Bank Of Canada lifted their target price on shares of Qualcomm from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group started coverage on shares of Qualcomm in a research report on Thursday, June 25th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty-one have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $219.76.
Read Our Latest Report on Qualcomm
Qualcomm Company 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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