Royal London Asset Management Ltd. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Royal London Asset Management Ltd. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 494,523 shares of the wireless technology company’s stock after buying an additional 9,023 shares during the period. Royal London Asset Management Ltd.’s holdings in QUALCOMM were worth $75,969,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prospera Financial Services Inc increased its stake in QUALCOMM by 83.6% in the third quarter. Prospera Financial Services Inc now owns 34,235 shares of the wireless technology company’s stock valued at $5,826,000 after purchasing an additional 15,593 shares during the period. Banque Cantonale Vaudoise increased its position in QUALCOMM by 14.3% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,099 shares of the wireless technology company’s stock valued at $4,268,000 after acquiring an additional 3,146 shares during the period. Prospera Private Wealth LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at approximately $2,241,000. Sachetta LLC lifted its position in QUALCOMM by 6.8% during the 3rd quarter. Sachetta LLC now owns 6,072 shares of the wireless technology company’s stock worth $1,033,000 after acquiring an additional 389 shares during the period. Finally, Strategy Asset Managers LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $530,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Up 1.3 %

Shares of NASDAQ:QCOM opened at $158.26 on Thursday. The company has a market capitalization of $175.04 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.01 and a beta of 1.28. The stock’s fifty day simple moving average is $164.54 and its 200-day simple moving average is $164.15. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last quarter. 0.08% of the stock is currently owned by insiders.

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.