Focus Partners Wealth Has $114.33 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Focus Partners Wealth grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 744,227 shares of the wireless technology company’s stock after purchasing an additional 18,034 shares during the period. Focus Partners Wealth owned approximately 0.07% of QUALCOMM worth $114,328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. Geode Capital Management LLC grew its position in QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi lifted its position in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI reduced their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday, May 2nd. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $192.08.

Insider Activity

In other news, 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 value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,599 shares of company stock worth $5,733,290. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $145.30 on Friday. The company’s fifty day moving average is $146.38 and its two-hundred day moving average is $157.55. The firm has a market capitalization of $159.54 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. 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 results 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. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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. This represents a $3.56 annualized dividend and a yield of 2.45%. 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. QUALCOMM’s payout ratio is 36.25%.

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.