Allspring Global Investments Holdings LLC Buys 34,490 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Allspring Global Investments Holdings LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 517,519 shares of the wireless technology company’s stock after acquiring an additional 34,490 shares during the period. Allspring Global Investments Holdings LLC’s holdings in QUALCOMM were worth $79,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of QCOM. CX Institutional raised its position in shares of QUALCOMM by 334.2% during the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after acquiring an additional 19,212 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in QUALCOMM by 0.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after purchasing an additional 88 shares during the last quarter. Creative Planning raised its holdings in QUALCOMM by 0.5% during the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after purchasing an additional 2,086 shares during the last quarter. Magnus Financial Group LLC lifted its position in QUALCOMM by 17.1% during the 3rd quarter. Magnus Financial Group LLC now owns 2,968 shares of the wireless technology company’s stock valued at $505,000 after purchasing an additional 434 shares during the period. Finally, Regatta Capital Group LLC boosted its stake in shares of QUALCOMM by 29.7% in the 3rd quarter. Regatta Capital Group LLC now owns 1,867 shares of the wireless technology company’s stock valued at $317,000 after purchasing an additional 428 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $170.29 on Thursday. QUALCOMM Incorporated has a 12-month low of $148.41 and a 12-month high of $230.63. The firm’s 50 day moving average is $162.50 and its 200-day moving average is $165.47. The company has a market capitalization of $188.34 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued 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 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Morgan Stanley decreased their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.