Naviter Wealth LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Naviter Wealth LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,280 shares of the wireless technology company’s stock after purchasing an additional 2,834 shares during the period. Naviter Wealth LLC’s holdings in QUALCOMM were worth $1,342,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley lifted its holdings in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after buying an additional 415,398 shares in the last quarter. Bank of New York Mellon Corp grew its stake in QUALCOMM by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock valued at $1,226,109,000 after acquiring an additional 90,163 shares in the last quarter. Finally, Invesco Ltd. grew its stake in QUALCOMM by 15.7% during the third 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 in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.1 %

Shares of NASDAQ:QCOM opened at $168.99 on Tuesday. The firm has a market capitalization of $188.59 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a 50 day moving average price of $166.17 and a 200-day moving average price of $145.34. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.01%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 46.38%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 371 shares of the firm’s 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on QCOM shares. Barclays raised 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. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. KeyCorp upped their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho lifted their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Cantor Fitzgerald boosted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $158.86.

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.