E Fund Management Hong Kong Co. Ltd. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

E Fund Management Hong Kong Co. Ltd. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 482.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518 shares of the wireless technology company’s stock after purchasing an additional 429 shares during the period. E Fund Management Hong Kong Co. Ltd.’s holdings in QUALCOMM were worth $80,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter valued at $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $26,000. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM in the 4th quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Citigroup reduced their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $153.14 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $168.15 billion, a PE ratio of 15.59, a P/E/G ratio of 1.95 and a beta of 1.26. The company’s fifty day simple moving average is $147.82 and its 200-day simple moving average is $154.83. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company posted $2.44 earnings per share. The firm’s revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

Insider Activity

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is currently owned by company 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.