Petix & Botte Co Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Petix & Botte Co cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,750 shares of the wireless technology company’s stock after selling 294 shares during the quarter. QUALCOMM accounts for approximately 0.7% of Petix & Botte Co’s investment portfolio, making the stock its 26th largest position. Petix & Botte Co’s holdings in QUALCOMM were worth $2,278,000 at the end of the most recent quarter.

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

QUALCOMM Stock Up 1.2 %

Shares of NASDAQ:QCOM traded up $2.21 during trading on Monday, reaching $181.85. The stock had a trading volume of 6,976,661 shares, compared to its average volume of 8,731,813. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $202.94 billion, a P/E ratio of 24.44, a PEG ratio of 2.27 and a beta of 1.33. The firm’s 50-day simple moving average is $168.19 and its 200 day simple moving average is $147.58. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.87%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Susquehanna upped their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Morgan Stanley upped their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Rosenblatt Securities lifted their target price 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 given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,316 shares of company stock worth $7,796,128. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.