Fifth Third Wealth Advisors LLC Has $555,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Fifth Third Wealth Advisors LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,277 shares of the wireless technology company’s stock after purchasing an additional 319 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in QUALCOMM were worth $555,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 8.1% during the 4th 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 buying an additional 1,909,025 shares during the period. Morgan Stanley raised its stake in QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after buying an additional 438,660 shares during the period. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth $2,507,978,000. Finally, Putnam Investments LLC raised its stake in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after buying an additional 263,482 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $2.18 during midday trading on Thursday, reaching $195.15. 11,912,951 shares of the company’s stock were exchanged, compared to its average volume of 9,320,610. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week 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 firm has a market cap of $217.79 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.46 and a beta of 1.30. The stock’s 50-day simple moving average is $194.32 and its 200 day simple moving average is $168.60.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.74%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction that occurred on 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 sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,206,875 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Evercore ISI began coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. Wells Fargo & Company lifted their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. UBS Group lifted their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.