Becker Capital Management Inc. Has $42.53 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Becker Capital Management Inc. grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 276,858 shares of the wireless technology company’s stock after purchasing an additional 1,458 shares during the period. QUALCOMM makes up approximately 1.4% of Becker Capital Management Inc.’s portfolio, making the stock its 21st biggest holding. Becker Capital Management Inc.’s holdings in QUALCOMM were worth $42,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Citigroup dropped 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. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $200.86.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 648 shares of QUALCOMM stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $141.11, for a total transaction of $91,439.28. Following the completion of the transaction, the chief financial officer now directly owns 56,445 shares of the company’s stock, valued at $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,666 shares of company stock valued at $5,047,052. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $146.88 on Wednesday. The stock has a market cap of $162.45 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock’s 50-day moving average is $149.02 and its 200 day moving average is $159.13.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

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.