Nichols & Pratt Advisers LLP MA Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Nichols & Pratt Advisers LLP MA increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,500 shares of the wireless technology company’s stock after acquiring an additional 1,716 shares during the quarter. QUALCOMM makes up about 1.7% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 21st largest position. Nichols & Pratt Advisers LLP MA’s holdings in QUALCOMM were worth $24,497,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $527,053,000. GAMMA Investing LLC raised its position in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Susquehanna decreased their price objective 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. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Finally, Citigroup cut their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average price target of $186.96.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 425,016 shares of company stock valued at $8,437,440. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $162.11 on Friday. The company has a market cap of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a 50-day moving average of $151.05 and a two-hundred day moving average of $154.90. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, 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 was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 36.25%.

About QUALCOMM

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.