Forvis Mazars Wealth Advisors LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Forvis Mazars Wealth Advisors LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,120 shares of the wireless technology company’s stock after buying an additional 265 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in QUALCOMM were worth $633,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 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 worth $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC boosted its holdings in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 6.3% during 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 purchasing an additional 498,284 shares in the last quarter. Van ECK Associates Corp lifted its holdings in QUALCOMM by 30.2% during 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 purchasing an additional 1,741,432 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after purchasing an additional 110,828 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred 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 represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 over the last three months. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on QCOM shares. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

Shares of QCOM opened at $161.10 on Tuesday. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a market cap of $178.18 billion, a PE ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25. The firm has a 50-day simple moving average of $164.52 and a two-hundred day simple moving average of $165.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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