Taikang Asset Management Hong Kong Co Ltd Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Taikang Asset Management Hong Kong Co Ltd boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 99.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,800 shares of the wireless technology company’s stock after buying an additional 22,300 shares during the quarter. QUALCOMM makes up approximately 1.0% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 27th biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in QUALCOMM were worth $6,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth 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 bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $160.08 on Tuesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm’s 50-day moving average is $164.57 and its 200 day moving average is $163.95. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.01 and a beta of 1.28. 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 (NASDAQ:QCOM) last announced 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 net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.32.

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.