QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Triangle Securities Wealth Management

Triangle Securities Wealth Management lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 13.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,214 shares of the wireless technology company’s stock after purchasing an additional 499 shares during the quarter. Triangle Securities Wealth Management’s holdings in QUALCOMM were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Fairfield Bush & CO. raised its stake in shares of QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after purchasing an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after acquiring an additional 245,335 shares in the last quarter. Merit Financial Group LLC raised its position in QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after acquiring an additional 555 shares in the last quarter. NewEdge Advisors LLC raised its position in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after acquiring an additional 79,827 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 27,626 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the sale, the insider now owns 23,637 shares of the company’s stock, valued at approximately $3,107,792.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Alexander H. Rogers sold 27,626 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total value of $3,632,266.48. Following the completion of the sale, the insider now owns 23,637 shares of the company’s stock, valued at approximately $3,107,792.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey William Henderson sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total value of $310,125.00. Following the completion of the sale, the director now directly owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 0.2 %

NASDAQ:QCOM opened at $120.73 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.09 and a quick ratio of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $161.30. The stock’s 50-day moving average is $125.43 and its two-hundred day moving average is $121.05. The stock has a market cap of $134.61 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.02. The company had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.57 billion. QUALCOMM had a return on equity of 69.93% and a net margin of 27.40%. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.96 EPS. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 8.21 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.48%. QUALCOMM’s payout ratio is 28.90%.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Credit Suisse Group boosted their price target on shares of QUALCOMM from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Susquehanna upgraded shares of QUALCOMM from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $130.00 to $140.00 in a research report on Thursday. Morgan Stanley boosted their price target on shares of QUALCOMM from $126.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Evercore ISI set a $120.00 price target on shares of QUALCOMM in a research report on Wednesday, November 23rd. Finally, Bank of America reissued a “buy” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Friday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $156.48.

About QUALCOMM

(Get Rating)

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.