QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,317,857 shares of the wireless technology company’s stock after acquiring an additional 259,403 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.57% of QUALCOMM worth $913,752,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lindbrook Capital LLC boosted its position in QUALCOMM by 17.8% during the third quarter. Lindbrook Capital LLC now owns 4,555 shares of the wireless technology company’s stock valued at $506,000 after purchasing an additional 688 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its position in QUALCOMM by 4.7% during the third quarter. GPS Wealth Strategies Group LLC now owns 6,045 shares of the wireless technology company’s stock valued at $671,000 after purchasing an additional 269 shares during the last quarter. Oak Asset Management LLC boosted its position in QUALCOMM by 0.5% during the third quarter. Oak Asset Management LLC now owns 66,632 shares of the wireless technology company’s stock valued at $7,400,000 after purchasing an additional 352 shares during the last quarter. Access Financial Services Inc. boosted its position in QUALCOMM by 1.4% during the third quarter. Access Financial Services Inc. now owns 16,520 shares of the wireless technology company’s stock valued at $1,835,000 after purchasing an additional 225 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its position in QUALCOMM by 12.9% during the third quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock valued at $245,000 after purchasing an additional 252 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Down 0.2 %

NASDAQ:QCOM traded down $0.43 during trading hours on Wednesday, hitting $179.72. 3,195,273 shares of the stock were exchanged, compared to its average volume of 8,664,092. The company’s 50 day moving average is $168.62 and its two-hundred day moving average is $148.09. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $184.31. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $200.57 billion, a P/E ratio of 24.14, a price-to-earnings-growth 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 issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insiders Place Their Bets

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,316 shares of company stock valued at $7,796,128. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on QCOM shares. Argus boosted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley boosted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Bank of America boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

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.