Tredje AP fonden Has $66.69 Million Stock Holdings in QUALCOMM Incorporated $QCOM

Tredje AP fonden cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.6% in the second quarter, HoldingsChannel reports. The fund owned 418,720 shares of the wireless technology company’s stock after selling 95,972 shares during the quarter. Tredje AP fonden’s holdings in QUALCOMM were worth $66,685,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 70 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of QUALCOMM by 122.4% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 93 shares during the period. Chung Wu Investment Group LLC acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of QUALCOMM during the second quarter worth approximately $32,000. Finally, Atticus Wealth Management LLC boosted its stake in shares of QUALCOMM by 21,200.0% during the 2nd quarter. Atticus Wealth Management LLC now owns 213 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 212 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Tuesday, October 28th. Weiss Ratings raised QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. lifted their price objective on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Sanford C. Bernstein set a $185.00 price objective on QUALCOMM and gave the company an “outperform” rating in a research report on Monday, July 28th. Finally, Susquehanna lifted their price target on QUALCOMM from $190.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.95.

QUALCOMM Stock Up 2.1%

QCOM stock opened at $180.90 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $205.95. The company has a fifty day simple moving average of $165.85 and a 200 day simple moving average of $156.67. The firm has a market cap of $195.19 billion, a PE ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%.The company had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, December 4th. QUALCOMM’s payout ratio is 34.33%.

Insider Buying and Selling

In related news, CAO Patricia Y. Grech sold 201 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $170.00, for a total value of $34,170.00. Following the completion of the sale, the chief accounting officer directly owned 203 shares in the company, valued at approximately $34,510. The trade was a 49.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 8,335 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $166.06, for a total transaction of $1,384,110.10. Following the completion of the sale, the chief financial officer owned 36,541 shares of the company’s stock, valued at $6,067,998.46. The trade was a 18.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 166,502 shares of company stock valued at $27,472,615 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.