Todd Asset Management LLC Buys 19,482 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Todd Asset Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 475,085 shares of the wireless technology company’s stock after acquiring an additional 19,482 shares during the period. QUALCOMM makes up approximately 1.7% of Todd Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Todd Asset Management LLC’s holdings in QUALCOMM were worth $72,978,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at about $27,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 70 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock worth $8,352,355 in the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Loop Capital decreased their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America dropped their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $181.10.

QUALCOMM Stock Up 1.1%

QCOM opened at $147.56 on Monday. The company’s 50-day moving average price is $155.07 and its two-hundred day moving average price is $154.06. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10. The stock has a market cap of $159.22 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.15 and a beta of 1.23.

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

QUALCOMM Announces Dividend

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

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.