AIA Group Ltd Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

AIA Group Ltd grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 290.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,525 shares of the wireless technology company’s stock after acquiring an additional 16,018 shares during the period. AIA Group Ltd’s holdings in QUALCOMM were worth $3,113,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Milestone Investment Advisors LLC acquired a new position in shares of QUALCOMM in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $35,000. Pacific Center for Financial Services bought a new stake in shares of QUALCOMM in the 1st quarter worth approximately $31,000. Finally, Cranbrook Wealth Management LLC grew its stake in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Mizuho boosted their price objective on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock valued at $7,184,678 in the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $3.19 during trading hours on Thursday, reaching $161.13. The company had a trading volume of 5,449,197 shares, compared to its average volume of 8,561,920. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $164.47 and a two-hundred day moving average of $142.20. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The firm has a market capitalization of $179.82 billion, a PE ratio of 23.67, a PEG ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.