Assenagon Asset Management S.A. Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Assenagon Asset Management S.A. increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 0.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,844,024 shares of the wireless technology company’s stock after acquiring an additional 10,551 shares during the quarter. QUALCOMM comprises approximately 0.8% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 18th largest holding. Assenagon Asset Management S.A.’s holdings in QUALCOMM were worth $281,804,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of QCOM. Allworth Financial LP lifted its stake in QUALCOMM by 198.1% in the first quarter. Allworth Financial LP now owns 19,813 shares of the wireless technology company’s stock valued at $3,028,000 after buying an additional 13,167 shares during the last quarter. Harvey Capital Management Inc. lifted its stake in QUALCOMM by 0.9% in the first quarter. Harvey Capital Management Inc. now owns 83,380 shares of the wireless technology company’s stock valued at $12,742,000 after buying an additional 705 shares during the last quarter. UMB Bank N A MO lifted its stake in QUALCOMM by 5.6% in the first quarter. UMB Bank N A MO now owns 61,236 shares of the wireless technology company’s stock valued at $9,358,000 after buying an additional 3,258 shares during the last quarter. Physicians Financial Services Inc. lifted its stake in QUALCOMM by 0.4% in the first quarter. Physicians Financial Services Inc. now owns 18,739 shares of the wireless technology company’s stock valued at $2,864,000 after buying an additional 79 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its stake in QUALCOMM by 86.5% in the first quarter. Wright Investors Service Inc. now owns 22,457 shares of the wireless technology company’s stock valued at $3,432,000 after buying an additional 10,414 shares during the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.

NASDAQ QCOM opened at $123.53 on Tuesday. The business’s 50-day moving average price is $133.81 and its 200 day moving average price is $153.52. QUALCOMM Incorporated has a twelve month low of $118.22 and a twelve month high of $193.58. The company has a market capitalization of $138.35 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.68 and a beta of 1.20. The company has a current ratio of 1.61, a quick ratio of 1.27 and a debt-to-equity ratio of 0.91.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.19. QUALCOMM had a return on equity of 103.73% and a net margin of 28.42%. The firm had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the business posted $1.59 earnings per share. Equities analysts predict that QUALCOMM Incorporated will post 11.12 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Thursday, June 2nd were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, June 1st. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. This represents a $3.00 annualized dividend and a yield of 2.43%. QUALCOMM’s dividend payout ratio is currently 30.71%.

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $129.95, for a total transaction of $197,653.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.05% of the company’s stock.

A number of equities research analysts have weighed in on the company. KeyCorp boosted their price objective on QUALCOMM from $200.00 to $220.00 in a research note on Monday, June 13th. Deutsche Bank Aktiengesellschaft dropped their target price on QUALCOMM from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $240.00 to $205.00 in a report on Tuesday, April 5th. Sumitomo Mitsui Financial Group lowered QUALCOMM from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $215.00 to $155.00 in a report on Monday, April 18th. Finally, UBS Group dropped their target price on QUALCOMM from $185.00 to $155.00 in a report on Thursday, April 28th. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.48.

QUALCOMM Company 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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