Allianz SE Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Allianz SE purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 68,721 shares of the wireless technology company’s stock, valued at approximately $10,620,000.

Other large investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust purchased a new position in QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 3.3 %

Shares of QUALCOMM stock opened at $152.72 on Friday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company’s fifty day moving average is $164.16 and its two-hundred day moving average is $163.82. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released 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%. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction 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. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on QCOM. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho cut 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. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently 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.