AIA Group Ltd Has $3.11 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

AIA Group Ltd increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 290.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,525 shares of the wireless technology company’s stock after acquiring an additional 16,018 shares during the quarter. AIA Group Ltd’s holdings in QUALCOMM were worth $3,113,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. raised its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in QUALCOMM during the 1st quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new position in shares of QUALCOMM in the 3rd quarter worth approximately $29,000. Pacific Center for Financial Services bought a new stake in shares of QUALCOMM in the 1st quarter valued at $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of QUALCOMM during the first quarter worth $32,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.9 %

NASDAQ:QCOM traded down $3.19 during mid-day trading on Thursday, reaching $161.13. The company’s stock had a trading volume of 5,449,197 shares, compared to its average volume of 8,561,920. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $179.82 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The stock has a fifty day moving average of $164.47 and a 200-day moving average of $142.20. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QCOM shares. Rosenblatt Securities lifted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, TD Cowen raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Profile

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.