MetLife Investment Management LLC Acquires 2,919 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

MetLife Investment Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 340,351 shares of the wireless technology company’s stock after purchasing an additional 2,919 shares during the quarter. MetLife Investment Management LLC’s holdings in QUALCOMM were worth $52,285,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Norinchukin Bank The boosted its stake in shares of QUALCOMM by 7.6% during the 4th quarter. Norinchukin Bank The now owns 59,239 shares of the wireless technology company’s stock worth $9,100,000 after acquiring an additional 4,192 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in QUALCOMM by 40.8% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 436,637 shares of the wireless technology company’s stock worth $67,076,000 after purchasing an additional 126,633 shares during the last quarter. Capital Research Global Investors grew its holdings in QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company’s stock valued at $217,141,000 after buying an additional 1,187,531 shares in the last quarter. Dimensional Fund Advisors LP increased its position in QUALCOMM by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company’s stock worth $692,747,000 after acquiring an additional 138,257 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of QUALCOMM by 3.8% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,154,237 shares of the wireless technology company’s stock worth $177,314,000 after purchasing an additional 42,481 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,666 shares of company stock worth $5,047,052. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $136.54 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. 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 business has a fifty day simple moving average of $153.10 and a two-hundred day simple moving average of $160.40. The company has a market capitalization of $151.01 billion, a P/E ratio of 14.59, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $201.21.

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.