Sei Investments Co. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Sei Investments Co. lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 652,329 shares of the wireless technology company’s stock after purchasing an additional 32,212 shares during the quarter. Sei Investments Co. owned about 0.06% of QUALCOMM worth $94,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the 4th quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its stake in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $35,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research note on Friday, May 3rd. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $188.74.

Insider Activity at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were 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 approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.3 %

Shares of NASDAQ:QCOM traded down $2.82 during trading hours on Friday, hitting $206.62. 5,714,393 shares of the company’s stock traded hands, compared to its average volume of 9,729,759. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $217.43. The business has a fifty day moving average price of $183.44 and a 200-day moving average price of $160.97. The firm has a market capitalization of $230.59 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 2.52 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts expect that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.65%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.