Federated Hermes Inc. Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Federated Hermes Inc. lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 53.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,574,695 shares of the wireless technology company’s stock after buying an additional 547,037 shares during the quarter. Federated Hermes Inc. owned approximately 0.14% of QUALCOMM worth $241,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Quadrant Capital Group LLC grew its holdings in shares of QUALCOMM by 12.4% in the fourth quarter. Quadrant Capital Group LLC now owns 11,321 shares of the wireless technology company’s stock worth $1,739,000 after purchasing an additional 1,247 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its holdings in QUALCOMM by 47.8% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 170,000 shares of the wireless technology company’s stock valued at $26,115,000 after buying an additional 55,000 shares in the last quarter. Russell Investments Group Ltd. boosted its position in QUALCOMM by 1.7% in the 4th quarter. Russell Investments Group Ltd. now owns 1,183,250 shares of the wireless technology company’s stock valued at $181,965,000 after buying an additional 19,616 shares during the period. Hemenway Trust Co LLC grew its stake in QUALCOMM by 18.7% in the 4th quarter. Hemenway Trust Co LLC now owns 1,755 shares of the wireless technology company’s stock worth $270,000 after acquiring an additional 277 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of QUALCOMM by 8.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,398,617 shares of the wireless technology company’s stock worth $368,476,000 after acquiring an additional 193,279 shares during the period. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho lowered their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Down 8.6 %

NASDAQ:QCOM opened at $127.46 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $161.74 and a 200-day simple moving average of $163.09. QUALCOMM Incorporated has a 12 month low of $126.68 and a 12 month high of $230.63. The company has a market capitalization of $140.97 billion, a P/E ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted 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%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred 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 directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. 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. Company insiders own 0.08% of the company’s stock.

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.