Opinicus Capital Inc. Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Opinicus Capital Inc. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,043 shares of the wireless technology company’s stock, valued at approximately $1,597,000. QUALCOMM accounts for about 1.6% of Opinicus Capital Inc.’s holdings, making the stock its 14th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley grew its stake in shares of QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the period. Northern Trust Corp grew its stake in shares of QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after purchasing an additional 415,398 shares during the period. Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock worth $1,226,109,000 after purchasing an additional 90,163 shares during the period. Finally, Invesco Ltd. grew its stake in shares of QUALCOMM by 15.7% during the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.4 %

Shares of QUALCOMM stock traded up $2.36 during trading on Friday, reaching $165.66. The stock had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a market capitalization of $184.88 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $165.84 and a two-hundred day moving average price of $144.47.

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

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 46.38%.

Analyst Ratings Changes

A number of equities research analysts recently commented on QCOM shares. Cantor Fitzgerald lifted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, KeyCorp boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

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.