QUALCOMM Incorporated (NASDAQ:QCOM) Position Raised by IndexIQ Advisors LLC

IndexIQ Advisors LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,572 shares of the wireless technology company’s stock after buying an additional 822 shares during the quarter. IndexIQ Advisors LLC’s holdings in QUALCOMM were worth $2,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of QUALCOMM by 13.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 210,215 shares of the wireless technology company’s stock valued at $30,046,000 after acquiring an additional 24,517 shares in the last quarter. BerganKDV Wealth Management LLC boosted its holdings in shares of QUALCOMM by 15.4% in the second quarter. BerganKDV Wealth Management LLC now owns 758 shares of the wireless technology company’s stock valued at $108,000 after acquiring an additional 101 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of QUALCOMM by 148.8% in the second quarter. Cresset Asset Management LLC now owns 33,892 shares of the wireless technology company’s stock valued at $4,844,000 after acquiring an additional 20,271 shares in the last quarter. JustInvest LLC boosted its holdings in shares of QUALCOMM by 93.5% in the second quarter. JustInvest LLC now owns 25,578 shares of the wireless technology company’s stock valued at $3,656,000 after acquiring an additional 12,361 shares in the last quarter. Finally, Fiera Capital Corp boosted its holdings in shares of QUALCOMM by 41.2% in the second quarter. Fiera Capital Corp now owns 38,317 shares of the wireless technology company’s stock valued at $3,495,000 after acquiring an additional 11,182 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

Shares of QCOM opened at $188.69 on Friday. The business’s fifty day moving average price is $180.28 and its two-hundred day moving average price is $153.56. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.41 and a current ratio of 1.68. The firm has a market capitalization of $211.33 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.25 and a beta of 1.24. QUALCOMM Incorporated has a 52 week low of $122.17 and a 52 week high of $193.58.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 3rd. The wireless technology company reported $2.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.06 by $0.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $8.88 billion. QUALCOMM had a return on equity of 104.16% and a net margin of 26.94%. During the same quarter last year, the business posted $1.23 EPS. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.59 EPS for the current year.

QUALCOMM declared that its board has authorized a stock repurchase program on Tuesday, October 12th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the wireless technology company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several analysts recently commented on QCOM shares. Piper Sandler increased their target price on shares of QUALCOMM from $190.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, November 17th. Summit Insights lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, November 3rd. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Friday, November 5th. UBS Group increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, November 4th. Finally, Rosenblatt Securities increased their target price on shares of QUALCOMM from $185.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $183.87.

In related news, CTO James H. Thompson sold 9,900 shares of the stock in a transaction on Friday, December 10th. The stock was sold at an average price of $183.39, for a total value of $1,815,561.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 21,006 shares of the stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $179.94, for a total value of $3,779,819.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,229 shares of company stock valued at $8,058,506. 0.14% of the stock is owned by corporate insiders.

About QUALCOMM

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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