ICICI Prudential Asset Management Co Ltd Has $3.20 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ICICI Prudential Asset Management Co Ltd boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 43.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,830 shares of the wireless technology company’s stock after acquiring an additional 6,288 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in QUALCOMM were worth $3,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter worth approximately $27,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on QCOM. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. One research 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 stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 0.8 %

Shares of QCOM stock opened at $173.64 on Wednesday. The company’s fifty day simple moving average is $163.70 and its two-hundred day simple moving average is $165.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The stock has a market capitalization of $192.05 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is currently owned by company insiders.

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.