Private Capital Management LLC Has $615,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Private Capital Management LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 73.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,005 shares of the wireless technology company’s stock after buying an additional 1,700 shares during the quarter. Private Capital Management LLC’s holdings in QUALCOMM were worth $615,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in QCOM. Eagle Strategies LLC increased its holdings in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its holdings in QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after buying an additional 59 shares during the period. TBH Global Asset Management LLC increased its holdings in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the period. PDS Planning Inc increased its holdings in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after buying an additional 64 shares during the period. Finally, CFS Investment Advisory Services LLC increased its holdings in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $152.98 on Thursday. The firm has a market cap of $167.97 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $146.00 and its two-hundred day moving average is $157.22.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 EPS. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QCOM shares. TD Cowen cut their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $192.08.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the transaction, the chief financial officer now directly owns 53,112 shares of the company’s stock, valued at $7,423,464.24. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,312 shares of company stock worth $1,948,379 in the last ninety days. 0.08% of the stock is owned by corporate 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.