Pinkerton Retirement Specialists LLC Has $5.62 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pinkerton Retirement Specialists LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 45.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,581 shares of the wireless technology company’s stock after buying an additional 11,354 shares during the period. QUALCOMM comprises 0.8% of Pinkerton Retirement Specialists LLC’s investment portfolio, making the stock its 27th largest holding. Pinkerton Retirement Specialists LLC’s holdings in QUALCOMM were worth $5,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC raised its holdings in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after buying an additional 670,432 shares during the period. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter worth about $2,721,882,000. Amundi raised its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp raised its holdings in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.6%

QCOM opened at $151.31 on Thursday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $166.14 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 2.01 and a beta of 1.29. The business has a 50 day moving average of $145.89 and a 200-day moving average of $156.67.

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

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average price target of $192.08.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is owned by corporate insiders.

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.