Russell Investments Group Ltd. Has $181.97 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Russell Investments Group Ltd. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,183,250 shares of the wireless technology company’s stock after purchasing an additional 19,616 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of QUALCOMM worth $181,965,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of QCOM. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of QUALCOMM by 102.5% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,156 shares of the wireless technology company’s stock worth $707,000 after purchasing an additional 2,104 shares in the last quarter. Two Sigma Advisers LP lifted its position in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after buying an additional 1,380,500 shares in the last quarter. Weaver Consulting Group bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $203,000. Wahed Invest LLC increased its position in shares of QUALCOMM by 14.9% in the third quarter. Wahed Invest LLC now owns 26,927 shares of the wireless technology company’s stock valued at $4,579,000 after acquiring an additional 3,489 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in QUALCOMM by 177.9% during the third quarter. Worldquant Millennium Advisors LLC now owns 782,322 shares of the wireless technology company’s stock worth $133,034,000 after acquiring an additional 500,849 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 8.6 %

Shares of QCOM stock opened at $127.46 on Friday. The firm has a market cap of $140.97 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $126.68 and a 12-month high of $230.63. The business has a 50-day moving average price of $161.74 and a two-hundred day moving average price of $163.13. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One 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. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Transactions 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 transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at approximately $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. In the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

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.