6,587 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Stevens Capital Management LP

Stevens Capital Management LP purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,587 shares of the wireless technology company’s stock, valued at approximately $953,000.

Several other large investors have also recently modified their holdings of QCOM. International Assets Investment Management LLC boosted its position in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its stake in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after acquiring an additional 2,659,323 shares during the period. Barclays PLC boosted its holdings in QUALCOMM by 53.6% during the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after purchasing an additional 1,842,868 shares during the last quarter. Invesco Ltd. raised its holdings in shares of QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of QUALCOMM by 48.8% during the 4th quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on QCOM shares. Barclays lifted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Benchmark assumed coverage on shares of QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

QCOM stock traded down $0.33 during trading on Thursday, hitting $163.30. 6,202,433 shares of the company traded hands, compared to its average volume of 8,540,579. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The stock’s 50-day simple moving average is $165.43 and its 200 day simple moving average is $143.97. The company has a market cap of $182.24 billion, a PE ratio of 23.50, a P/E/G ratio of 2.21 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio is 46.38%.

QUALCOMM Company 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.