QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lessened by River Road Asset Management LLC

River Road Asset Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 59.9% in the 4th quarter, HoldingsChannel reports. The firm owned 93,171 shares of the wireless technology company’s stock after selling 139,248 shares during the quarter. River Road Asset Management LLC’s holdings in QUALCOMM were worth $13,475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth $376,000. Guidance Capital Inc. boosted its stake in QUALCOMM by 11.0% during the fourth quarter. Guidance Capital Inc. now owns 5,560 shares of the wireless technology company’s stock valued at $780,000 after buying an additional 549 shares in the last quarter. Sfmg LLC bought a new position in QUALCOMM during the fourth quarter valued at about $251,000. Quantum Private Wealth LLC boosted its stake in QUALCOMM by 0.5% during the fourth quarter. Quantum Private Wealth LLC now owns 21,509 shares of the wireless technology company’s stock valued at $3,111,000 after buying an additional 100 shares in the last quarter. Finally, Safeguard Financial LLC bought a new position in QUALCOMM during the fourth quarter valued at about $264,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.4 %

QCOM opened at $163.70 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The business has a 50-day moving average of $164.47 and a 200-day moving average of $142.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market capitalization of $182.69 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. Susquehanna raised their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. KeyCorp upped their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday. They set an “in-line” rating and a $177.00 target price for the company. Finally, Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock valued at $7,184,678 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.