QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,415,090 shares of the wireless technology company’s stock after buying an additional 69,707 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of QUALCOMM worth $240,636,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM during the 1st quarter valued at $1,171,516,000. Massachusetts Financial Services Co. MA increased its position in QUALCOMM by 1,778.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock worth $641,221,000 after buying an additional 3,047,947 shares during the last quarter. International Assets Investment Management LLC raised its holdings in QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after buying an additional 2,919,490 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Maj Invest Holding A S bought a new stake in shares of QUALCOMM during the 3rd quarter worth about $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. Finally, Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.16.

QUALCOMM Stock Down 0.0 %

QCOM opened at $172.91 on Friday. The firm has a market cap of $192.62 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.66 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39. The firm’s 50-day simple moving average is $168.55 and its 200-day simple moving average is $182.14. QUALCOMM Incorporated has a twelve month low of $119.15 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. Equities research analysts anticipate that QUALCOMM Incorporated will post 8.02 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 44.04%.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the sale, the chief technology officer now owns 213,364 shares in the company, valued at $36,229,207.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,146 shares of company stock valued at $2,709,186 over the last ninety days. 0.08% of the stock is owned by insiders.

About QUALCOMM

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.