QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,317,857 shares of the wireless technology company’s stock after purchasing an additional 259,403 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in QUALCOMM were worth $913,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares during the last quarter. Barclays PLC raised its holdings in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after acquiring an additional 1,842,868 shares during the period. Invesco Ltd. boosted its position in shares of QUALCOMM by 15.7% during the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in shares of QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Piper Sandler increased their target price on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Benchmark restated a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a report on Friday, May 3rd. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $0.43 during mid-day trading on Wednesday, reaching $179.72. 3,195,273 shares of the stock were exchanged, compared to its average volume of 8,664,092. The stock has a market capitalization of $200.57 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $184.31. The company has a 50 day simple moving average of $168.62 and a 200-day simple moving average of $148.09. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insider Activity

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 value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.