Citizens Financial Group Inc. RI Acquires 1,436 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Citizens Financial Group Inc. RI boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,584 shares of the wireless technology company’s stock after acquiring an additional 1,436 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in QUALCOMM were worth $6,541,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of QUALCOMM by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company’s stock valued at $17,568,141,000 after purchasing an additional 638,284 shares during the period. Northern Trust Corp grew its position in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of QUALCOMM by 24.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,254,759 shares of the wireless technology company’s stock valued at $1,114,403,000 after acquiring an additional 1,407,797 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of QUALCOMM by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company’s stock valued at $692,747,000 after purchasing an additional 138,257 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,099 shares of company stock worth $8,352,355. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a research report on Sunday. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Finally, Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.10.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $145.84 on Thursday. The company has a fifty day moving average price of $155.08 and a 200 day moving average price of $154.58. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The firm has a market cap of $157.36 billion, a PE ratio of 14.06, a PEG ratio of 2.14 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company earned $2.33 earnings per share. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM’s dividend payout ratio is presently 34.33%.

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.