Eagle Global Advisors LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Eagle Global Advisors LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,169 shares of the wireless technology company’s stock after buying an additional 790 shares during the period. Eagle Global Advisors LLC’s holdings in QUALCOMM were worth $7,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Congress Wealth Management LLC DE raised its holdings in shares of QUALCOMM by 64.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,674 shares of the wireless technology company’s stock worth $1,544,000 after purchasing an additional 4,197 shares during the last quarter. ProVise Management Group LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $259,000. Orion Portfolio Solutions LLC raised its holdings in shares of QUALCOMM by 10.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 72,297 shares of the wireless technology company’s stock worth $10,051,000 after purchasing an additional 6,675 shares during the last quarter. Team Hewins LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $1,098,000. Finally, Cypress Asset Management Inc. TX purchased a new position in shares of QUALCOMM during the fourth quarter worth $4,611,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $8.60 during trading hours on Friday, reaching $210.36. 13,799,042 shares of the company’s stock were exchanged, compared to its average volume of 8,749,459. The firm has a market capitalization of $234.76 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 2.51 and a beta of 1.33. The company has a 50-day moving average of $174.64 and a 200 day moving average of $154.38. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $211.30.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Research analysts anticipate that QUALCOMM Incorporated will post 7.81 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.62%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 43.01%.

Analyst Ratings Changes

Several research analysts recently issued reports on QCOM shares. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research lifted their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Barclays lifted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, KeyCorp boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $180.48.

Read Our Latest Analysis on QUALCOMM

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 70,074 shares of company stock worth $12,258,386 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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