Sovereign s Capital Management LLC Takes $3.09 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sovereign s Capital Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,111 shares of the wireless technology company’s stock, valued at approximately $3,089,000. QUALCOMM accounts for approximately 2.0% of Sovereign s Capital Management LLC’s holdings, making the stock its 21st biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth about $29,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM in the fourth quarter worth about $33,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,312 shares of company stock worth $1,948,379. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.1%

NASDAQ:QCOM opened at $152.50 on Monday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm has a market cap of $167.45 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 2.01 and a beta of 1.29. 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 company’s 50 day moving average is $145.94 and its 200-day moving average is $156.80.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.33%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

A number of research firms have recently issued reports on QCOM. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Finally, Benchmark reduced their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $192.08.

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.