Nuveen Asset Management LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 37.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,468,283 shares of the wireless technology company’s stock after buying an additional 2,294,400 shares during the quarter. Nuveen Asset Management LLC’s holdings in QUALCOMM were worth $1,548,596,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ten Capital Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 263.2% during the third quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $36,000. Jackson Wealth Management LLC lifted its holdings in shares of QUALCOMM by 0.3% during the third quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company’s stock worth $37,000 after buying an additional 103 shares during the last quarter. Old North State Trust LLC increased its position in shares of QUALCOMM by 58.9% during the fourth quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 76 shares during the period. Finally, Stuart Chaussee & Associates Inc. raised its stake in shares of QUALCOMM by 49.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Cowen increased their price objective on shares of QUALCOMM from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, February 3rd. Raymond James raised their price objective on shares of QUALCOMM from $190.00 to $222.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 3rd. Citigroup raised their price objective on shares of QUALCOMM from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 3rd. Susquehanna reduced their price objective on shares of QUALCOMM from $190.00 to $165.00 in a report on Thursday, April 28th. Finally, Tigress Financial raised their price objective on shares of QUALCOMM from $195.00 to $238.00 in a report on Thursday, May 5th. Ten analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $194.77.
QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 EPS for the quarter, topping the consensus estimate of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The company had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the company earned $1.59 EPS. Equities analysts anticipate that QUALCOMM Incorporated will post 11.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.75 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. QUALCOMM’s payout ratio is currently 27.84%.
In other news, CAO Erin L. Polek sold 1,521 shares of QUALCOMM stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.05% of the stock is owned by insiders.
QUALCOMM Profile (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.
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