Processus Wealth & Capital Management LLC Has $2.98 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Processus Wealth & Capital Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,381 shares of the wireless technology company’s stock after buying an additional 216 shares during the period. QUALCOMM comprises about 2.4% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Processus Wealth & Capital Management LLC’s holdings in QUALCOMM were worth $2,977,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of QCOM. State Street Corp boosted its holdings in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the period. Geode Capital Management LLC lifted its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after buying an additional 193,236 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,708 shares of company stock worth $7,713,734. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 2.6 %

QCOM opened at $161.10 on Tuesday. The stock has a market capitalization of $178.18 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm’s fifty day simple moving average is $164.52 and its 200 day simple moving average is $165.81. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.11%. QUALCOMM’s payout ratio is currently 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.