APG Asset Management N.V. Has $100.71 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

APG Asset Management N.V. grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 812.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 678,856 shares of the wireless technology company’s stock after buying an additional 604,432 shares during the period. APG Asset Management N.V.’s holdings in QUALCOMM were worth $100,711,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at $2,721,882,000. Amundi grew its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth about $527,053,000. Geode Capital Management LLC lifted its stake in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after purchasing an additional 709,644 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI lowered 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. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. The trade was a 2.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,749 shares of company stock valued at $4,920,347 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Up 1.8 %

Shares of QUALCOMM stock opened at $129.72 on Tuesday. The stock has a fifty day moving average price of $160.91 and a 200-day moving average price of $162.74. 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 firm has a market cap of $143.47 billion, a PE ratio of 13.86, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted 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 return on equity of 39.51% and a net margin of 25.94%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.