Securian Asset Management Inc. Has $10.20 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Securian Asset Management Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,489 shares of the wireless technology company’s stock after selling 9,596 shares during the quarter. Securian Asset Management Inc.’s holdings in QUALCOMM were worth $10,195,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd acquired a new position in QUALCOMM during the 3rd quarter worth approximately $612,000. Stonehage Fleming Financial Services Holdings Ltd boosted its holdings in QUALCOMM by 1,346.2% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 1,880 shares of the wireless technology company’s stock worth $209,000 after purchasing an additional 1,750 shares during the last quarter. Bourgeon Capital Management LLC grew its position in QUALCOMM by 33.3% in the third quarter. Bourgeon Capital Management LLC now owns 113,204 shares of the wireless technology company’s stock valued at $12,572,000 after purchasing an additional 28,258 shares in the last quarter. Albion Financial Group UT increased its stake in QUALCOMM by 2.0% in the 3rd quarter. Albion Financial Group UT now owns 59,533 shares of the wireless technology company’s stock valued at $6,612,000 after buying an additional 1,191 shares during the last quarter. Finally, Capital Investment Counsel Inc lifted its position in QUALCOMM by 10.9% during the 3rd quarter. Capital Investment Counsel Inc now owns 72,357 shares of the wireless technology company’s stock worth $8,036,000 after buying an additional 7,130 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.59 during mid-day trading on Friday, hitting $193.86. 5,799,714 shares of the company’s stock were exchanged, compared to its average volume of 8,596,046. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm has a market cap of $216.35 billion, a price-to-earnings ratio of 26.06, a price-to-earnings-growth ratio of 2.40 and a beta of 1.33. The stock’s 50-day simple moving average is $172.21 and its 200-day simple moving average is $152.27. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $196.08.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders 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 a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.75%. QUALCOMM’s payout ratio is currently 43.01%.

Insider Activity

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $190.01, for a total value of $1,539,081.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total transaction of $1,539,081.00. The disclosure for this sale can be found here. In the last three months, insiders sold 66,260 shares of company stock worth $11,478,430. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on QCOM. Wells Fargo & Company upped their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Piper Sandler increased their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, KeyCorp lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $180.48.

Get Our Latest Stock Analysis on QCOM

QUALCOMM Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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