Manchester Capital Management LLC Buys 129 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Manchester Capital Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,169 shares of the wireless technology company’s stock after purchasing an additional 129 shares during the period. Manchester Capital Management LLC’s holdings in QUALCOMM were worth $3,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northern Trust Corp raised its stake in shares of 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 purchasing an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of QUALCOMM by 17.0% during the 4th 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 worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of QUALCOMM by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company’s stock worth $692,747,000 after purchasing an additional 138,257 shares in the last quarter. First Trust Advisors LP raised its stake in shares of QUALCOMM by 2.5% during the 4th quarter. First Trust Advisors LP now owns 4,010,518 shares of the wireless technology company’s stock worth $616,096,000 after purchasing an additional 97,343 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of QUALCOMM by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,541,661 shares of the wireless technology company’s stock worth $544,035,000 after purchasing an additional 30,369 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $148.19 on Friday. The firm has a market cap of $159.90 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.90 and a beta of 1.23. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.08 and a current ratio of 3.19. The business’s fifty day moving average is $155.11 and its 200-day moving average is $154.86.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. QUALCOMM’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $2.33 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 28th. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an “outperform” rating in a research note on Monday, July 28th. Citigroup restated a “hold” rating on shares of QUALCOMM in a research note on Thursday, July 17th. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Mizuho dropped their price target on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $181.10.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were 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 424,099 shares of company stock valued at $8,324,591 over the last ninety days. 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.