Versant Capital Management Inc Boosts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Versant Capital Management Inc increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 223.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,543 shares of the wireless technology company’s stock after purchasing an additional 3,830 shares during the period. Versant Capital Management Inc’s holdings in QUALCOMM were worth $851,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the fourth quarter worth about $26,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter worth about $29,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the fourth quarter worth about $30,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,068 shares of company stock valued at $8,418,305 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $148.34 on Friday. 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 company has a market capitalization of $162.88 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.29. The company’s 50 day simple moving average is $144.60 and its 200 day simple moving average is $155.74. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.44 earnings per share. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.40%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. TD Cowen lowered their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Loop Capital lowered their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $192.08.

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.