BI Asset Management Fondsmaeglerselskab A S Grows Stake in QUALCOMM, Inc. (NASDAQ:QCOM)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 462.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,217 shares of the wireless technology company’s stock after acquiring an additional 92,259 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in QUALCOMM were worth $7,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Mutual of America Capital Management LLC lifted its stake in shares of QUALCOMM by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 155,591 shares of the wireless technology company’s stock valued at $10,526,000 after buying an additional 1,540 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of QUALCOMM by 18.1% in the first quarter. Cigna Investments Inc. New now owns 35,923 shares of the wireless technology company’s stock worth $2,431,000 after buying an additional 5,502 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of QUALCOMM by 3.0% in the first quarter. Blair William & Co. IL now owns 235,046 shares of the wireless technology company’s stock worth $15,901,000 after buying an additional 6,779 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of QUALCOMM by 13.0% during the first quarter. Sequoia Financial Advisors LLC now owns 9,082 shares of the wireless technology company’s stock worth $614,000 after acquiring an additional 1,045 shares during the last quarter. Finally, MainStreet Investment Advisors LLC purchased a new position in QUALCOMM during the first quarter valued at $563,000. Institutional investors and hedge funds own 76.65% of the company’s stock.

In related news, CAO Erin L. Polek sold 1,646 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $79.47, for a total value of $130,807.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.12% of the company’s stock.

Several research firms have commented on QCOM. Tigress Financial reissued a “buy” rating on shares of QUALCOMM in a report on Friday, April 17th. Daiwa Capital Markets upgraded QUALCOMM from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 11th. BidaskClub raised QUALCOMM from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group increased their target price on QUALCOMM from $70.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $88.57.

QCOM stock traded up $0.70 during midday trading on Friday, reaching $78.70. The company’s stock had a trading volume of 5,471,251 shares, compared to its average volume of 10,017,896. QUALCOMM, Inc. has a 1 year low of $58.00 and a 1 year high of $96.17. The firm has a market capitalization of $87.74 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 1.38 and a beta of 1.36. The stock has a fifty day simple moving average of $75.19 and a two-hundred day simple moving average of $82.06. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.39 and a current ratio of 1.57.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 29th. The wireless technology company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. QUALCOMM had a net margin of 16.36% and a return on equity of 69.92%. The firm had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that QUALCOMM, Inc. will post 3.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, June 3rd. This is an increase from QUALCOMM’s previous quarterly dividend of $0.62. QUALCOMM’s payout ratio is currently 87.32%.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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