TIAA Trust National Association Buys 46,479 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TIAA Trust National Association grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 84.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 101,478 shares of the wireless technology company’s stock after purchasing an additional 46,479 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $20,212,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $2,507,978,000. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the 1st quarter worth $1,171,516,000. Price T Rowe Associates Inc. MD increased its holdings in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Van ECK Associates Corp raised its position in QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of QUALCOMM in the 1st quarter worth $238,770,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,000 shares of company stock worth $3,496,590. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 6.9 %

Shares of QUALCOMM stock opened at $163.24 on Wednesday. The firm has a 50-day simple moving average of $182.04 and a two-hundred day simple moving average of $181.54. The company has a market cap of $182.18 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 1.93 and a beta of 1.27. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.78 and a current ratio of 2.39.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The firm had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analysts Set New Price Targets

Several equities analysts have recently commented on QCOM shares. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research note on Friday, August 2nd. Argus increased their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Citigroup raised their price objective on QUALCOMM from $170.00 to $200.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Finally, Robert W. Baird upped their target price on QUALCOMM from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $210.63.

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.