Wilmington Savings Fund Society FSB Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wilmington Savings Fund Society FSB grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 59,563 shares of the wireless technology company’s stock after purchasing an additional 3,895 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in QUALCOMM were worth $9,150,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management grew its position in QUALCOMM by 3.5% in the third quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock valued at $4,957,000 after acquiring an additional 991 shares in the last quarter. CWM LLC raised its stake in shares of QUALCOMM by 2.7% in the 3rd quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock valued at $21,156,000 after purchasing an additional 3,264 shares in the last quarter. Marcum Wealth LLC lifted its holdings in QUALCOMM by 8.6% during the 3rd quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock worth $430,000 after buying an additional 200 shares during the last quarter. Cypress Wealth Services LLC acquired a new position in QUALCOMM in the third quarter worth $203,000. Finally, UMB Bank n.a. grew its position in shares of QUALCOMM by 1.2% during the 3rd quarter. UMB Bank n.a. now owns 40,990 shares of the wireless technology company’s stock valued at $6,970,000 after buying an additional 476 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $167.96 on Friday. The company has a market cap of $185.76 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $146.29 and a 1 year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $161.96 and a 200 day simple moving average of $166.04.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio is 36.32%.

QUALCOMM Company 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.