Ghe LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ghe LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,961 shares of the wireless technology company’s stock after acquiring an additional 165 shares during the quarter. QUALCOMM makes up about 1.9% of Ghe LLC’s portfolio, making the stock its 12th biggest holding. Ghe LLC’s holdings in QUALCOMM were worth $3,176,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Avior Wealth Management LLC lifted its position in shares of QUALCOMM by 1.7% during the third quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock worth $1,273,000 after purchasing an additional 186 shares in the last quarter. Founders Financial Securities LLC acquired a new stake in shares of QUALCOMM during the third quarter worth about $327,000. GHP Investment Advisors Inc. lifted its position in shares of QUALCOMM by 101.4% during the third quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock worth $81,000 after purchasing an additional 373 shares in the last quarter. Meridian Wealth Management LLC lifted its position in shares of QUALCOMM by 92.5% during the third quarter. Meridian Wealth Management LLC now owns 16,394 shares of the wireless technology company’s stock worth $1,823,000 after purchasing an additional 7,878 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. lifted its position in shares of QUALCOMM by 26.5% during the third quarter. Garrison Bradford & Associates Inc. now owns 19,274 shares of the wireless technology company’s stock worth $2,141,000 after purchasing an additional 4,035 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Canaccord Genuity Group increased their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, Benchmark started coverage on QUALCOMM in a report on Tuesday. They issued a “buy” rating and a $200.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $2.28 during midday trading on Wednesday, reaching $163.63. The stock had a trading volume of 6,088,578 shares, compared to its average volume of 8,570,011. The firm has a fifty day simple moving average of $165.43 and a two-hundred day simple moving average of $143.97. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock has a market cap of $182.61 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.20 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

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.