Van ECK Associates Corp Has $632.09 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Van ECK Associates Corp reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,370,412 shares of the wireless technology company’s stock after selling 304,090 shares during the quarter. QUALCOMM accounts for approximately 1.2% of Van ECK Associates Corp’s holdings, making the stock its 16th biggest position. Van ECK Associates Corp owned 0.39% of QUALCOMM worth $632,093,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc grew its stake in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares in the last quarter. Chilton Capital Management LLC grew its stake in shares of QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. Means Investment CO. Inc. grew its stake in shares of QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares in the last quarter. Marino Stram & Associates LLC grew its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 73 shares in the last quarter. Finally, First Command Advisory Services Inc. grew its stake in shares of QUALCOMM by 6.1% in the fourth quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after buying an additional 79 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM traded up $3.54 during midday trading on Monday, reaching $169.20. 6,619,586 shares of the stock were exchanged, compared to its average volume of 8,500,422. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $188.83 billion, a P/E ratio of 24.17, a PEG ratio of 2.27 and a beta of 1.41. The stock’s 50 day simple moving average is $165.84 and its 200 day simple moving average is $144.94.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current 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 given a dividend of $0.85 per share. This is a boost 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 annualized dividend and a yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated 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 owns 24,300 shares of the company’s stock, valued at $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s 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 transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last quarter. 0.08% of the stock is owned by company insiders.

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.