Brandywine Global Investment Management LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Brandywine Global Investment Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 659,913 shares of the wireless technology company’s stock, valued at approximately $101,376,000. Brandywine Global Investment Management LLC owned about 0.06% of QUALCOMM at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. IPG Investment Advisors LLC raised its position in shares of QUALCOMM by 82.8% during the fourth quarter. IPG Investment Advisors LLC now owns 56,177 shares of the wireless technology company’s stock worth $8,630,000 after acquiring an additional 25,442 shares during the last quarter. California Public Employees Retirement System increased its position in QUALCOMM by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 3,505,858 shares of the wireless technology company’s stock worth $538,570,000 after purchasing an additional 53,573 shares during the period. RWA Wealth Partners LLC raised its holdings in QUALCOMM by 29.7% during the 4th quarter. RWA Wealth Partners LLC now owns 184,259 shares of the wireless technology company’s stock worth $28,306,000 after purchasing an additional 42,219 shares during the last quarter. Summit Securities Group LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $3,576,000. Finally, Schroder Investment Management Group boosted its stake in shares of QUALCOMM by 9.5% in the 4th quarter. Schroder Investment Management Group now owns 1,668,206 shares of the wireless technology company’s stock valued at $256,270,000 after purchasing an additional 144,658 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 3.3 %

Shares of QUALCOMM stock opened at $152.72 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a market cap of $168.91 billion, a P/E ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company’s fifty day simple moving average is $164.16 and its two-hundred day simple moving average is $163.84.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by insiders.

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.