QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by DnB Asset Management AS

DnB Asset Management AS raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 293,303 shares of the wireless technology company’s stock after buying an additional 5,913 shares during the quarter. DnB Asset Management AS’s holdings in QUALCOMM were worth $45,057,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM opened at $157.97 on Friday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $164.40 and a two-hundred day moving average of $163.88. The stock has a market cap of $174.71 billion, a P/E ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM 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.