QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Boosted by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,182 shares of the wireless technology company’s stock after buying an additional 527 shares during the quarter. QUALCOMM comprises 2.2% of Wolff Wiese Magana LLC’s holdings, making the stock its 9th largest position. Wolff Wiese Magana LLC’s holdings in QUALCOMM were worth $2,570,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its stake in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Morgan Stanley increased its stake in QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the last quarter. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth $2,507,978,000. Finally, Putnam Investments LLC increased its stake in QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after acquiring an additional 263,482 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Argus lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Mizuho lifted their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Morgan Stanley lifted their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, UBS Group lifted their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Activity

In other news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,802.08. The disclosure for this sale can be found here. In the last three months, insiders sold 37,185 shares of company stock valued at $6,860,715. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.1 %

NASDAQ QCOM traded down $0.23 during trading on Monday, reaching $198.95. 2,620,500 shares of the company’s stock were exchanged, compared to its average volume of 9,317,048. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market cap of $222.03 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The company has a 50 day moving average price of $195.82 and a two-hundred day moving average price of $169.67.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

QUALCOMM Profile

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.