Welch & Forbes LLC Has $22.76 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Welch & Forbes LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 157,387 shares of the wireless technology company’s stock after selling 1,300 shares during the quarter. Welch & Forbes LLC’s holdings in QUALCOMM were worth $22,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Glass Jacobson Investment Advisors llc boosted its holdings in QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the period. Chilton Capital Management LLC boosted its holdings in QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the period. Means Investment CO. Inc. boosted its holdings in QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after acquiring an additional 71 shares during the period. Marino Stram & Associates LLC boosted its holdings in QUALCOMM by 2.5% during the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 73 shares during the period. Finally, First Command Advisory Services Inc. boosted its holdings in QUALCOMM by 6.1% during the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after acquiring an additional 79 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.2 %

Shares of QUALCOMM stock traded up $2.21 on Monday, reaching $181.85. The company’s stock had a trading volume of 6,976,661 shares, compared to its average volume of 8,731,813. The company has a market capitalization of $202.94 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 2.27 and a beta of 1.33. The firm’s fifty day simple moving average is $168.19 and its two-hundred day simple moving average is $147.58. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $183.19. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.87%. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on QCOM. Piper Sandler increased their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Wolfe Research increased their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Insiders Place Their Bets

In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,316 shares of company stock valued at $7,796,128. Corporate insiders own 0.08% of the company’s stock.

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.