Cutter & CO Brokerage Inc. Buys Shares of 1,410 QUALCOMM Incorporated (NASDAQ:QCOM)

Cutter & CO Brokerage Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,410 shares of the wireless technology company’s stock, valued at approximately $204,000.

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

QUALCOMM Trading Up 1.1 %

NASDAQ:QCOM traded up $1.75 on Wednesday, reaching $163.10. 3,062,637 shares of the stock traded hands, compared to its average volume of 8,528,854. The firm has a market capitalization of $182.02 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company’s 50 day moving average is $165.24 and its 200-day moving average is $143.83.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 46.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QCOM. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Mizuho raised their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Barclays increased their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Benchmark started coverage on QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 price objective for the company. Finally, Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $158.86.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 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.