Clifford Swan Investment Counsel LLC Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Clifford Swan Investment Counsel LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 203,611 shares of the wireless technology company’s stock after selling 1,016 shares during the period. QUALCOMM comprises about 1.1% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 20th biggest holding. Clifford Swan Investment Counsel LLC’s holdings in QUALCOMM were worth $29,448,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of QCOM. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares during the last quarter. Morgan Stanley boosted its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after acquiring an additional 438,660 shares during the last quarter. Northern Trust Corp grew its position in shares of QUALCOMM by 3.5% during the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after acquiring an additional 415,398 shares during the period. Invesco Ltd. increased its stake in shares of QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of QUALCOMM by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,058,454 shares of the wireless technology company’s stock worth $672,852,000 after purchasing an additional 128,373 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on QCOM. HSBC boosted their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Bank of America boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday. Finally, Rosenblatt Securities increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.46 during midday trading on Friday, reaching $179.64. 10,043,912 shares of the stock traded hands, compared to its average volume of 8,171,053. The stock has a market cap of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The stock’s fifty day moving average is $167.69 and its 200-day moving average is $147.08. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is an increase 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 yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 over the last 90 days. 0.08% of the stock is owned by insiders.

About QUALCOMM

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.