Carret Asset Management LLC Has $1.24 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Carret Asset Management LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,562 shares of the wireless technology company’s stock after buying an additional 391 shares during the period. Carret Asset Management LLC’s holdings in QUALCOMM were worth $1,238,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Legacy Financial Group LLC bought a new position in shares of QUALCOMM in the third quarter valued at $29,000. Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC boosted its position in QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its position in QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Mizuho lifted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 target price for the company. Barclays boosted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. 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 Price Performance

NASDAQ QCOM traded down $1.72 during trading on Thursday, hitting $161.91. 1,676,102 shares of the company’s stock were exchanged, compared to its average volume of 8,481,992. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $180.69 billion, a PE ratio of 23.50, a P/E/G ratio of 2.21 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The stock’s 50 day moving average price is $165.43 and its two-hundred day moving average price is $143.97.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.