Becker Capital Management Inc. Acquires 1,458 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Becker Capital Management Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,858 shares of the wireless technology company’s stock after purchasing an additional 1,458 shares during the quarter. QUALCOMM comprises about 1.4% of Becker Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Becker Capital Management Inc.’s holdings in QUALCOMM were worth $42,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM during the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on QCOM shares. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $200.86.

QUALCOMM Trading Down 0.5 %

QUALCOMM stock opened at $146.88 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a 50-day simple moving average of $149.02 and a 200 day simple moving average of $159.13. The stock has a market capitalization of $162.45 billion, a P/E ratio of 15.69, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued 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 net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is 38.03%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,666 shares of company stock valued at $5,047,052 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM 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.