Evergreen Wealth Management LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Evergreen Wealth Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,230 shares of the wireless technology company’s stock after purchasing an additional 346 shares during the quarter. QUALCOMM accounts for approximately 1.6% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Evergreen Wealth Management LLC’s holdings in QUALCOMM were worth $2,203,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.4% during 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 purchasing an additional 483,390 shares during the last quarter. Morgan Stanley raised 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 valued at $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Northern Trust Corp raised its stake 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 buying an additional 415,398 shares during the last quarter. Invesco Ltd. lifted its holdings 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 valued at $1,027,269,000 after buying an additional 1,253,173 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in QUALCOMM by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,058,454 shares of the wireless technology company’s stock worth $672,852,000 after acquiring an additional 128,373 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday. KeyCorp raised their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Barclays upped their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. Finally, Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the 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 other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QCOM traded down $0.46 during trading on Friday, hitting $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19. The firm has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The company’s 50-day moving average price is $167.69 and its 200 day moving average price is $147.08.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

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.