Siemens Fonds Invest GmbH Has $10.35 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Siemens Fonds Invest GmbH grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 52.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,367 shares of the wireless technology company’s stock after purchasing an additional 23,219 shares during the period. Siemens Fonds Invest GmbH’s holdings in QUALCOMM were worth $10,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi boosted its position in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in QUALCOMM during the 4th quarter worth approximately $527,053,000. Northern Trust Corp boosted its position in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $145.38 on Tuesday. The firm’s 50-day moving average price is $145.20 and its 200-day moving average price is $155.99. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The firm has a market capitalization of $159.63 billion, a P/E ratio of 15.53, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Benchmark dropped their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Hold” and an average target price of $192.08.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now owns 53,112 shares in the company, valued at $7,423,464.24. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 in the last quarter. Insiders own 0.08% of the company’s stock.

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.