Vestmark Advisory Solutions Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Vestmark Advisory Solutions Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 57.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,679 shares of the wireless technology company’s stock after purchasing an additional 3,522 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in QUALCOMM were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $32,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC lifted its holdings in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Buck Wealth Strategies LLC purchased a new position in QUALCOMM in the 3rd quarter worth $40,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last three months, insiders sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on QCOM shares. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Bank of America raised their target price on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research report on Friday. Finally, StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $1.39 during trading hours on Monday, hitting $181.03. 702,978 shares of the stock were exchanged, compared to its average volume of 8,662,666. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $183.19. The firm’s fifty day moving average price is $167.69 and its 200 day moving average price is $147.08. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $202.03 billion, a P/E ratio of 24.30, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 43.01%.

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.