Amundi Purchases 3,905,918 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Amundi increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,579,529 shares of the wireless technology company’s stock after purchasing an additional 3,905,918 shares during the quarter. QUALCOMM makes up approximately 0.8% of Amundi’s portfolio, making the stock its 16th biggest holding. Amundi owned 1.31% of QUALCOMM worth $2,313,634,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of QCOM. Blake Schutter Theil Wealth Advisors LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $273,000. Graypoint LLC raised its holdings in shares of QUALCOMM by 3.6% in the 3rd quarter. Graypoint LLC now owns 8,211 shares of the wireless technology company’s stock worth $1,396,000 after purchasing an additional 288 shares during the period. Principal Financial Group Inc. raised its holdings in QUALCOMM by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company’s stock valued at $240,636,000 after acquiring an additional 69,707 shares during the period. Western Pacific Wealth Management LP bought a new stake in QUALCOMM during the 3rd quarter valued at $68,000. Finally, Consolidated Planning Corp bought a new stake in QUALCOMM during the 3rd quarter valued at $951,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was 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 of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,045 shares of company stock valued at $7,752,423. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on QCOM shares. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Piper Sandler lowered their target price 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. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $161.22 on Friday. The company has a 50-day simple moving average of $164.76 and a two-hundred day simple moving average of $165.14. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.