LSV Asset Management Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

LSV Asset Management increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,989,072 shares of the wireless technology company’s stock after acquiring an additional 392,802 shares during the period. QUALCOMM makes up 1.1% of LSV Asset Management’s investment portfolio, making the stock its 13th largest holding. LSV Asset Management owned about 0.27% of QUALCOMM worth $459,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Scotia Capital Inc. raised its holdings in shares of QUALCOMM by 0.7% during the fourth quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company’s stock valued at $19,855,000 after purchasing an additional 890 shares during the last quarter. F M Investments LLC increased its holdings in QUALCOMM by 40.9% during the fourth quarter. F M Investments LLC now owns 11,278 shares of the wireless technology company’s stock valued at $1,733,000 after buying an additional 3,272 shares during the last quarter. One Degree Advisors Inc increased its holdings in QUALCOMM by 4.4% during the fourth quarter. One Degree Advisors Inc now owns 2,348 shares of the wireless technology company’s stock valued at $361,000 after buying an additional 99 shares during the last quarter. APG Asset Management US Inc. increased its holdings in QUALCOMM by 2.9% during the fourth quarter. APG Asset Management US Inc. now owns 35,068 shares of the wireless technology company’s stock valued at $5,387,000 after buying an additional 992 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in QUALCOMM by 812.1% during the fourth quarter. APG Asset Management N.V. now owns 678,856 shares of the wireless technology company’s stock valued at $100,711,000 after buying an additional 604,432 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays reduced 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. Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company 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 and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $202.64.

Insider Buying and Selling

In other news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,018 shares of company stock worth $4,955,613. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $143.59 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a fifty day moving average price of $157.89 and a 200 day moving average price of $161.88. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a market cap of $158.81 billion, a PE ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

QUALCOMM Company 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.