Eurizon Capital SGR S.p.A. Purchases 307,483 Shares of Qualcomm Incorporated $QCOM

Eurizon Capital SGR S.p.A. grew its position in Qualcomm Incorporated (NASDAQ:QCOM) by 43.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,022,230 shares of the wireless technology company’s stock after acquiring an additional 307,483 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Qualcomm were worth $188,185,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Werba Rubin Papier Wealth Management acquired a new position in Qualcomm during the 3rd quarter worth about $291,000. UG Investment Advisers Ltd. purchased a new position in Qualcomm during the 3rd quarter valued at about $39,944,000. Van Strum & Towne Inc. boosted its holdings in Qualcomm by 5.6% during the 3rd quarter. Van Strum & Towne Inc. now owns 23,902 shares of the wireless technology company’s stock valued at $4,399,000 after acquiring an additional 1,260 shares during the period. Alphabet Inc. purchased a new position in Qualcomm during the 3rd quarter valued at about $547,884,000. Finally, Three Bridge Wealth Advisors LLC acquired a new position in Qualcomm in the 3rd quarter valued at about $47,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Qualcomm Stock Up 0.3%

Shares of NASDAQ QCOM opened at $177.14 on Friday. The stock has a market cap of $189.54 billion, a P/E ratio of 13.95, a PEG ratio of 2.07 and a beta of 1.70. The business’s fifty day simple moving average is $178.65 and its 200-day simple moving average is $169.90. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $259.92. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42.

Qualcomm (NASDAQ:QCOM) last released its earnings results on Wednesday, November 4th. The wireless technology company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.16 by $0.01. Qualcomm had a return on equity of 30.62% and a net margin of 31.60%. The firm had revenue of $10.44 billion during the quarter, compared to analysts’ expectations of $10.12 billion. During the same period in the previous year, the firm posted $3.00 EPS. Qualcomm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Qualcomm Incorporated will post 6.75 EPS for the current fiscal year.

Qualcomm Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, December 3rd. Qualcomm’s dividend payout ratio (DPR) is presently 28.98%.

Insiders Place Their Bets

In other news, EVP Ann Chaplin sold 1,827 shares of the business’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $174.75, for a total transaction of $319,268.25. Following the completion of the transaction, the executive vice president directly owned 25,770 shares of the company’s stock, valued at approximately $4,503,307.50. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Grech sold 625 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $162.85, for a total value of $101,781.25. Following the transaction, the chief accounting officer directly owned 208 shares of the company’s stock, valued at approximately $33,872.80. This represents a 75.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 32,520 shares of company stock worth $6,101,411. Corporate insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald cut their price target on shares of Qualcomm from $200.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Morgan Stanley reduced their price target on shares of Qualcomm from $231.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. KeyCorp reissued a “sector weight” rating on shares of Qualcomm in a research note on Wednesday, September 9th. Royal Bank Of Canada raised their price objective on shares of Qualcomm from $160.00 to $180.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 9th. Finally, Oppenheimer set a $200.00 price objective on shares of Qualcomm in a report on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twenty-one have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $197.13.

Latest Qualcomm News

These are some of the QCOM news items that stood out recently:

• Positive Sentiment: Qualcomm’s 5G partnership with SpaceX could create a new opportunity in network equipment. Amon called it a partnership that could drive innovation, though its commercial impact is not yet clear. Qualcomm CEO on SpaceX deal
• Positive Sentiment: An AI-focused Linux desktop operating system being developed for Snapdragon PCs could support Qualcomm’s push to expand beyond smartphones and into AI-capable computers. Qualcomm AI PC partnership
• Negative Sentiment: Despite a quarterly earnings beat, reports cited handset weakness and uncertainty around data-center growth in explaining a sharp recent selloff. Investors are also weighing customer concentration, investment needs and potential margin pressure as Qualcomm ramps its data-center business. Qualcomm selloff and uncertainty

Qualcomm Company Profile

Qualcomm Incorporated is a technology company that develops wireless communications technologies and semiconductor products. Its chips and related systems are used in smartphones and other connected devices, with products spanning mobile processors, modem-radio frequency systems, and connectivity solutions. The Snapdragon brand includes platforms for mobile devices as well as computing, automotive, and extended-reality applications. Qualcomm also develops technology for automotive systems and the Internet of Things, including connectivity and processing solutions for vehicles, industrial equipment, and consumer devices.