J.Safra Asset Management Corp Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

J.Safra Asset Management Corp lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 78.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,127 shares of the wireless technology company’s stock after acquiring an additional 933 shares during the period. J.Safra Asset Management Corp’s holdings in QUALCOMM were worth $329,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after buying an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Two Sigma Advisers LP grew its stake in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. State Street Corp grew its stake in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Finally, Bridgewater Associates LP grew its stake in QUALCOMM by 1,968.1% during the 3rd quarter. Bridgewater Associates LP now owns 796,997 shares of the wireless technology company’s stock valued at $135,529,000 after purchasing an additional 758,459 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,045 shares of company stock valued at $8,237,043 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $154.46 on Wednesday. The stock’s 50 day simple moving average is $164.75 and its 200-day simple moving average is $165.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market cap of $170.83 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.