Private Capital Management LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Private Capital Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 73.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,005 shares of the wireless technology company’s stock after buying an additional 1,700 shares during the period. Private Capital Management LLC’s holdings in QUALCOMM were worth $615,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sovereign Financial Group Inc. lifted its holdings in shares of QUALCOMM by 2.1% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,144 shares of the wireless technology company’s stock valued at $637,000 after acquiring an additional 87 shares in the last quarter. Accurate Wealth Management LLC lifted its holdings in shares of QUALCOMM by 23.4% during the 4th quarter. Accurate Wealth Management LLC now owns 9,881 shares of the wireless technology company’s stock valued at $1,551,000 after acquiring an additional 1,872 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of QUALCOMM by 0.8% during the 4th quarter. SeaCrest Wealth Management LLC now owns 16,980 shares of the wireless technology company’s stock valued at $2,608,000 after acquiring an additional 141 shares in the last quarter. Pines Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at $1,392,000. Finally, Define Financial LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at $242,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,312 shares of company stock worth $1,948,379 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.1%

Shares of QCOM opened at $152.98 on Thursday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $167.97 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 2.01 and a beta of 1.29. The stock’s 50-day moving average price is $146.00 and its 200 day moving average price is $157.22.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is a positive change 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%. QUALCOMM’s dividend payout ratio is 36.25%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on QCOM shares. Evercore ISI reduced their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $192.08.

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.