GF Fund Management CO. LTD. Purchases 1,281 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

GF Fund Management CO. LTD. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,474 shares of the wireless technology company’s stock after buying an additional 1,281 shares during the period. QUALCOMM makes up about 0.8% of GF Fund Management CO. LTD.’s portfolio, making the stock its 28th largest position. GF Fund Management CO. LTD.’s holdings in QUALCOMM were worth $32,945,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after buying an additional 340 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $647,000. SPC Financial Inc. purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $354,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of QUALCOMM by 50.1% in the fourth quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company’s stock valued at $645,000 after acquiring an additional 1,401 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 425,016 shares of company stock valued at $8,437,440 over the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $162.11 on Friday. The stock has a 50-day simple moving average of $151.05 and a two-hundred day simple moving average of $154.90. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The firm has a market capitalization of $177.99 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (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 the consensus estimate of $10.58 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Thursday, June 5th. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

A number of analysts recently commented on QCOM shares. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Robert W. Baird decreased their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $186.96.

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.