QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 41,148 shares of the wireless technology company’s stock after buying an additional 3,322 shares during the period. Citizens Financial Group Inc. RI’s holdings in QUALCOMM were worth $6,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in QCOM. State Street Corp grew its stake in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC grew its position in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Amundi grew its position 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 worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. Bank of New York Mellon Corp lifted its position in QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 1.2 %

QUALCOMM stock opened at $153.10 on Wednesday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $169.33 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a 50 day moving average price of $164.76 and a 200 day moving average price of $164.78.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.22%. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,955 shares of company stock valued at $4,847,350 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.