Handelsbanken Fonder AB Has $60.56 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Handelsbanken Fonder AB reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,733 shares of the wireless technology company’s stock after selling 13,678 shares during the quarter. Handelsbanken Fonder AB’s holdings in QUALCOMM were worth $60,561,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rheos Capital Works Inc. raised its stake in QUALCOMM by 36.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after purchasing an additional 42,500 shares during the last quarter. Peoples Bank OH acquired a new position in shares of QUALCOMM in the 4th quarter valued at $219,000. HF Advisory Group LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $629,000. Bank Hapoalim BM raised its stake in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares in the last quarter. Finally, NewEdge Wealth LLC raised its stake in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Cantor Fitzgerald raised their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Evercore ISI started coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. Finally, Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM Stock Down 2.4 %

Shares of NASDAQ:QCOM traded down $3.81 during midday trading on Friday, hitting $157.63. The stock had a trading volume of 10,292,182 shares, compared to its average volume of 6,247,785. The company has a market cap of $175.92 billion, a P/E ratio of 22.84, a PEG ratio of 2.15 and a beta of 1.41. The business’s 50-day simple moving average is $164.87 and its 200-day simple moving average is $142.89. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.16%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last ninety days. Insiders own 0.08% of the company’s stock.

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.