QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,369 shares of the wireless technology company’s stock after purchasing an additional 1,089 shares during the period. Naviter Wealth LLC’s holdings in QUALCOMM were worth $1,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Verum Partners LLC raised its position in QUALCOMM by 8.6% during the first quarter. Verum Partners LLC now owns 2,041 shares of the wireless technology company’s stock worth $345,000 after acquiring an additional 161 shares during the last quarter. State of Michigan Retirement System raised its position in QUALCOMM by 0.3% during the first quarter. State of Michigan Retirement System now owns 322,066 shares of the wireless technology company’s stock worth $54,526,000 after acquiring an additional 1,000 shares during the last quarter. Buffington Mohr McNeal acquired a new position in QUALCOMM during the first quarter worth about $228,000. Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in QUALCOMM during the first quarter worth about $208,000. Finally, Allspring Global Investments Holdings LLC raised its position in QUALCOMM by 44.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 388,122 shares of the wireless technology company’s stock worth $65,709,000 after acquiring an additional 120,088 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value 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 Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,456,475 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Argus boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Stock Performance

QCOM stock traded up $0.13 during trading on Tuesday, hitting $200.16. 5,629,337 shares of the company’s stock traded hands, compared to its average volume of 9,320,942. 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 52 week low of $104.33 and a 52 week high of $230.63. The stock has a fifty day moving average price of $196.62 and a two-hundred day moving average price of $170.08. The stock has a market capitalization of $223.38 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27.

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

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 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.