Livforsakringsbolaget Skandia Omsesidigt Acquires 954 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the fourth quarter, HoldingsChannel reports. The fund owned 66,077 shares of the wireless technology company’s stock after buying an additional 954 shares during the period. QUALCOMM makes up 0.9% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 20th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in QUALCOMM were worth $9,557,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Milestone Investment Advisors LLC bought a new stake in QUALCOMM during the 1st quarter valued at $26,000. DHJJ Financial Advisors Ltd. bought a new stake in QUALCOMM during the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Fortitude Family Office LLC bought a new stake in QUALCOMM during the 4th quarter valued at $35,000. Finally, Pacific Center for Financial Services bought a new stake in QUALCOMM during the 1st quarter valued at $31,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $4.26 during trading on Wednesday, hitting $164.32. The company’s stock had a trading volume of 8,079,240 shares, compared to its average volume of 8,607,317. The company has a 50-day moving average of $164.11 and a 200-day moving average of $142.05. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market cap of $183.38 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,360 shares of company stock worth $7,184,678. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Finally, Rosenblatt Securities upped their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $156.90.

QUALCOMM 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.