QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,673 shares of the wireless technology company’s stock after acquiring an additional 3,673 shares during the period. QUALCOMM comprises approximately 0.9% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 19th largest position. Harvest Fund Management Co. Ltd’s holdings in QUALCOMM were worth $5,741,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rheos Capital Works Inc. raised its position in shares of QUALCOMM by 36.8% during the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after buying an additional 42,500 shares in the last quarter. Peoples Bank OH bought a new stake in shares of QUALCOMM during the 4th quarter worth $219,000. HF Advisory Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $629,000. Bank Hapoalim BM boosted its holdings in shares of QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the period. Finally, NewEdge Wealth LLC boosted its holdings in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Mizuho increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. Cantor Fitzgerald increased their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Susquehanna raised their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.86.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a filing with the SEC, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.7 %

QUALCOMM stock traded up $1.17 during midday trading on Tuesday, hitting $161.35. 6,605,127 shares of the stock were exchanged, compared to its average volume of 8,601,207. The company has a fifty day simple moving average of $165.24 and a two-hundred day simple moving average of $143.83. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The stock has a market capitalization of $180.07 billion, a PE ratio of 23.38, a P/E/G ratio of 2.15 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm 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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

QUALCOMM 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.