Geode Capital Management LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Geode Capital Management LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,798,900 shares of the wireless technology company’s stock after purchasing an additional 670,432 shares during the quarter. Geode Capital Management LLC owned 2.51% of QUALCOMM worth $4,262,826,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on QCOM. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. 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 report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. 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 assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 0.6 %

Shares of NASDAQ QCOM opened at $153.61 on Tuesday. The stock has a market capitalization of $169.89 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $147.88 and a 52 week high of $230.63. The firm has a 50-day moving average price of $163.94 and a 200 day moving average price of $163.74. 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 announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were 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 in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

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.