QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Morningstar Investment Services LLC

Morningstar Investment Services LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 98.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,101,514 shares of the wireless technology company’s stock after purchasing an additional 545,707 shares during the period. Morningstar Investment Services LLC owned approximately 0.10% of QUALCOMM worth $160,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stephens Inc. AR raised its position in QUALCOMM by 4.8% during the fourth quarter. Stephens Inc. AR now owns 104,023 shares of the wireless technology company’s stock worth $15,045,000 after acquiring an additional 4,744 shares during the last quarter. Pinnacle West Asset Management Inc. raised its position in QUALCOMM by 5.0% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 5,360 shares of the wireless technology company’s stock worth $775,000 after acquiring an additional 255 shares during the last quarter. Exencial Wealth Advisors LLC raised its position in QUALCOMM by 2.2% during the fourth quarter. Exencial Wealth Advisors LLC now owns 125,223 shares of the wireless technology company’s stock worth $18,111,000 after acquiring an additional 2,738 shares during the last quarter. Pinebridge Investments L.P. raised its position in QUALCOMM by 246.3% during the fourth quarter. Pinebridge Investments L.P. now owns 227,932 shares of the wireless technology company’s stock worth $32,966,000 after acquiring an additional 162,120 shares during the last quarter. Finally, Cibc World Markets Corp raised its position in QUALCOMM by 128.0% during the fourth quarter. Cibc World Markets Corp now owns 545,203 shares of the wireless technology company’s stock worth $78,853,000 after acquiring an additional 306,124 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QCOM shares. HSBC lifted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. TD Cowen boosted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.74.

View Our Latest Stock Report on QUALCOMM

QUALCOMM Trading Down 1.3 %

QCOM traded down $2.65 during trading on Friday, hitting $206.79. 2,904,567 shares of the company’s stock were exchanged, compared to its average volume of 8,882,419. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $217.43. The stock has a 50 day moving average price of $182.69 and a 200 day moving average price of $160.20. The firm has a market cap of $230.78 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.58 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released 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. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, analysts expect that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

Insider Transactions at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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