Congress Asset Management Co. MA Invests $222,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Congress Asset Management Co. MA purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,533 shares of the wireless technology company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bison Wealth LLC lifted its stake in QUALCOMM by 5.9% in the 3rd quarter. Bison Wealth LLC now owns 3,888 shares of the wireless technology company’s stock valued at $432,000 after purchasing an additional 218 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in QUALCOMM by 1,285.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,912 shares of the wireless technology company’s stock valued at $212,000 after purchasing an additional 1,774 shares during the last quarter. Provence Wealth Management Group lifted its stake in QUALCOMM by 15.0% in the 3rd quarter. Provence Wealth Management Group now owns 2,211 shares of the wireless technology company’s stock valued at $246,000 after purchasing an additional 289 shares during the last quarter. River Road Asset Management LLC lifted its stake in QUALCOMM by 0.3% in the 3rd quarter. River Road Asset Management LLC now owns 232,419 shares of the wireless technology company’s stock valued at $25,812,000 after purchasing an additional 644 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in QUALCOMM by 13.2% in the 3rd quarter. Acadian Asset Management LLC now owns 56,003 shares of the wireless technology company’s stock valued at $6,216,000 after purchasing an additional 6,527 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on QCOM. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. Citigroup raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. UBS Group raised their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Wells Fargo & Company raised their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.74.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 2.2 %

QCOM opened at $227.09 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $253.43 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company has a fifty day moving average of $189.61 and a 200-day moving average of $165.57. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business 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%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.50%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.