Quadcap Wealth Management LLC Has $1.87 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Quadcap Wealth Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,140 shares of the wireless technology company’s stock after acquiring an additional 180 shares during the period. Quadcap Wealth Management LLC’s holdings in QUALCOMM were worth $1,865,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Quantinno Capital Management LP raised its holdings in QUALCOMM by 40.4% during the fourth quarter. Quantinno Capital Management LP now owns 202,327 shares of the wireless technology company’s stock worth $31,082,000 after buying an additional 58,209 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in QUALCOMM during the fourth quarter worth $2,519,000. MainStreet Investment Advisors LLC acquired a new position in QUALCOMM during the fourth quarter worth $4,905,000. Nissay Asset Management Corp Japan ADV raised its holdings in QUALCOMM by 3.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 339,461 shares of the wireless technology company’s stock worth $53,377,000 after buying an additional 12,358 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. raised its holdings in QUALCOMM by 28.7% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 533,957 shares of the wireless technology company’s stock worth $82,026,000 after buying an additional 119,015 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $192.08.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the sale, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 1.1%

Shares of NASDAQ QCOM opened at $152.98 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm’s fifty day moving average is $146.00 and its 200 day moving average is $157.22. The company has a market cap of $167.97 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

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.