TIAA Trust National Association Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

TIAA Trust National Association raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,859 shares of the wireless technology company’s stock after acquiring an additional 187 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $8,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $1,467,351,000. Cowa LLC purchased a new position in shares of QUALCOMM during the 1st quarter valued at about $94,000. Morgan Stanley raised its holdings in shares of QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $171.04 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock has a market capitalization of $190.88 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41. The stock’s 50 day moving average price is $158.85 and its 200-day moving average price is $137.27.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.87%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Insiders have sold 42,360 shares of company stock worth $6,803,208 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QCOM shares. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $119.00 to $132.00 in a report on Friday, December 8th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Rosenblatt Securities raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

Check Out Our Latest Stock Analysis on QCOM

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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