Vicus Capital Has $560,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Vicus Capital lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,647 shares of the wireless technology company’s stock after selling 185 shares during the period. Vicus Capital’s holdings in QUALCOMM were worth $560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Inscription Capital LLC acquired a new stake in QUALCOMM in the 1st quarter valued at approximately $401,000. Grove Bank & Trust boosted its position in shares of QUALCOMM by 43.4% in the first quarter. Grove Bank & Trust now owns 4,252 shares of the wireless technology company’s stock valued at $653,000 after acquiring an additional 1,286 shares during the period. Grimes & Company Inc. grew its stake in shares of QUALCOMM by 9.0% in the first quarter. Grimes & Company Inc. now owns 184,173 shares of the wireless technology company’s stock worth $28,291,000 after acquiring an additional 15,233 shares during the last quarter. Stockman Wealth Management Inc. increased its position in QUALCOMM by 669.3% during the first quarter. Stockman Wealth Management Inc. now owns 48,891 shares of the wireless technology company’s stock worth $7,510,000 after acquiring an additional 42,536 shares during the period. Finally, QRG Capital Management Inc. raised its stake in QUALCOMM by 4.7% during the 1st quarter. QRG Capital Management Inc. now owns 386,975 shares of the wireless technology company’s stock valued at $59,443,000 after purchasing an additional 17,510 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup cut their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI lowered their price objective on 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 research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $190.28.

QUALCOMM Trading Down 1.5%

Shares of NASDAQ QCOM opened at $154.46 on Wednesday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock has a market cap of $169.60 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.75 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average is $146.71 and its 200-day moving average is $155.12.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost 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.