Dynamic Technology Lab Private Ltd Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dynamic Technology Lab Private Ltd increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 90.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,639 shares of the wireless technology company’s stock after buying an additional 4,570 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in QUALCOMM were worth $1,394,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QCOM. Martin & Co. Inc. TN grew its position in shares of QUALCOMM by 4.8% during the 3rd quarter. Martin & Co. Inc. TN now owns 10,156 shares of the wireless technology company’s stock valued at $1,128,000 after acquiring an additional 465 shares during the period. Advisor OS LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at about $229,000. ICICI Prudential Asset Management Co Ltd grew its position in shares of QUALCOMM by 31.1% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 9,930 shares of the wireless technology company’s stock valued at $1,103,000 after acquiring an additional 2,356 shares during the period. Main Street Financial Solutions LLC grew its position in shares of QUALCOMM by 20.0% during the 3rd quarter. Main Street Financial Solutions LLC now owns 6,361 shares of the wireless technology company’s stock valued at $706,000 after acquiring an additional 1,061 shares during the period. Finally, Stoneridge Investment Partners LLC grew its position in shares of QUALCOMM by 3.0% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 24,118 shares of the wireless technology company’s stock valued at $2,679,000 after acquiring an additional 709 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. raised their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. Morgan Stanley raised their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group raised their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.48.

QUALCOMM Trading Up 1.4 %

Shares of QCOM stock traded up $2.73 during trading on Monday, hitting $196.59. 1,167,919 shares of the stock traded hands, compared to its average volume of 8,501,573. The firm has a market capitalization of $219.39 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm’s fifty day moving average price is $172.21 and its 200-day moving average price is $152.56. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $197.14.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The transaction was disclosed in a 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 business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $190.01, for a total value of $1,539,081.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on 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 owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,260 shares of company stock worth $11,478,430. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.