Grimes & Company Inc. Has $25.95 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Grimes & Company Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 168,940 shares of the wireless technology company’s stock after purchasing an additional 3,274 shares during the quarter. QUALCOMM accounts for about 0.7% of Grimes & Company Inc.’s investment portfolio, making the stock its 28th largest holding. Grimes & Company Inc.’s holdings in QUALCOMM were worth $25,953,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC lifted its stake in QUALCOMM by 7.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 15,799 shares of the wireless technology company’s stock valued at $2,427,000 after buying an additional 1,073 shares during the period. Cyndeo Wealth Partners LLC increased its holdings in shares of QUALCOMM by 34.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 4,258 shares of the wireless technology company’s stock worth $654,000 after acquiring an additional 1,097 shares in the last quarter. Accel Wealth Management grew its holdings in shares of QUALCOMM by 3.8% during the fourth quarter. Accel Wealth Management now owns 3,848 shares of the wireless technology company’s stock worth $591,000 after buying an additional 140 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of QUALCOMM by 5.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 304,158 shares of the wireless technology company’s stock worth $46,725,000 after buying an additional 17,056 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of QUALCOMM by 41.3% during the fourth quarter. CX Institutional now owns 35,259 shares of the wireless technology company’s stock worth $5,417,000 after buying an additional 10,299 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

NASDAQ QCOM opened at $172.11 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm’s 50 day moving average price is $159.49 and its 200-day moving average price is $167.83. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a market cap of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.