Callan Capital LLC Has $485,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Capital LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the wireless technology company’s stock after acquiring an additional 309 shares during the period. Callan Capital LLC’s holdings in QUALCOMM were worth $485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Vanguard Group Inc. lifted its position 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 acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $2,721,882,000. Northern Trust Corp grew its stake in shares of QUALCOMM by 12.7% during the fourth 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock valued at $1,502,509,000 after buying an additional 1,424,106 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 2.5%

Shares of QUALCOMM stock opened at $158.09 on Tuesday. 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 company has a market capitalization of $173.58 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The business has a 50-day moving average of $151.53 and a two-hundred day moving average of $155.01. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09.

QUALCOMM (NASDAQ:QCOM) last posted 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. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned $2.44 EPS. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 36.25%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction 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. Insiders have sold 424,747 shares of company stock worth $8,402,174 in the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QCOM shares. Bank of America cut their target price on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $188.00.

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.