APG Asset Management US Inc. Acquires 992 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

APG Asset Management US Inc. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,068 shares of the wireless technology company’s stock after acquiring an additional 992 shares during the quarter. APG Asset Management US Inc.’s holdings in QUALCOMM were worth $5,387,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. APG Asset Management N.V. raised its holdings in shares of QUALCOMM by 812.1% in the 4th quarter. APG Asset Management N.V. now owns 678,856 shares of the wireless technology company’s stock valued at $100,711,000 after purchasing an additional 604,432 shares during the period. Advisory Services Network LLC increased its holdings in shares of QUALCOMM by 3.1% during the 4th quarter. Advisory Services Network LLC now owns 85,757 shares of the wireless technology company’s stock worth $13,174,000 after acquiring an additional 2,587 shares during the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of QUALCOMM by 8.0% during the 4th quarter. Applied Finance Capital Management LLC now owns 11,057 shares of the wireless technology company’s stock worth $1,699,000 after buying an additional 818 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in QUALCOMM in the 4th quarter valued at about $55,000. Finally, Sandhill Capital Partners LLC raised its holdings in QUALCOMM by 0.4% in the 4th quarter. Sandhill Capital Partners LLC now owns 31,630 shares of the wireless technology company’s stock valued at $4,859,000 after acquiring an additional 134 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,018 shares of company stock valued at $4,955,613. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $124.66 on Wednesday. The business has a 50 day moving average price of $159.04 and a 200-day moving average price of $162.17. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a market cap of $137.87 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on QCOM shares. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus 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.