QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lifted by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 72,346 shares of the wireless technology company’s stock after acquiring an additional 4,604 shares during the quarter. QUALCOMM comprises approximately 4.1% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 4th largest position. Townsend Asset Management Corp NC ADV’s holdings in QUALCOMM were worth $11,114,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in QUALCOMM during the fourth quarter worth $527,053,000. First Business Financial Services Inc. boosted its holdings in shares of QUALCOMM by 3.9% in the 4th quarter. First Business Financial Services Inc. now owns 10,172 shares of the wireless technology company’s stock valued at $1,563,000 after buying an additional 381 shares during the period. Vision Financial Markets LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $188,000. Arizona State Retirement System raised its stake in QUALCOMM by 0.9% during the fourth quarter. Arizona State Retirement System now owns 322,784 shares of the wireless technology company’s stock worth $49,586,000 after acquiring an additional 2,819 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in QUALCOMM by 50.1% in the fourth quarter. Proficio Capital Partners LLC now owns 4,199 shares of the wireless technology company’s stock worth $645,000 after acquiring an additional 1,401 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Finally, Morgan Stanley cut their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $158.49 on Thursday. The firm has a 50-day moving average of $164.73 and a two-hundred day moving average of $165.29. The firm has a market capitalization of $175.29 billion, a PE ratio of 16.93, a P/E/G ratio of 2.01 and a beta of 1.25. 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 Incorporated has a one year low of $149.43 and a one year high of $230.63.

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 analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by company insiders.

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.