Anchor Capital Advisors LLC Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Anchor Capital Advisors LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.8% during the fourth quarter, HoldingsChannel reports. The firm owned 113,292 shares of the wireless technology company’s stock after buying an additional 27,971 shares during the period. Anchor Capital Advisors LLC’s holdings in QUALCOMM were worth $16,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Intrust Bank NA increased its stake in QUALCOMM by 0.8% during the 4th quarter. Intrust Bank NA now owns 10,296 shares of the wireless technology company’s stock worth $1,489,000 after buying an additional 81 shares during the period. Naviter Wealth LLC grew its stake in shares of QUALCOMM by 44.0% during the fourth quarter. Naviter Wealth LLC now owns 9,280 shares of the wireless technology company’s stock valued at $1,342,000 after acquiring an additional 2,834 shares in the last quarter. Birchcreek Wealth Management LLC increased its position in shares of QUALCOMM by 8.7% during the fourth quarter. Birchcreek Wealth Management LLC now owns 3,681 shares of the wireless technology company’s stock worth $532,000 after acquiring an additional 295 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in shares of QUALCOMM in the fourth quarter worth about $416,000. Finally, Choreo LLC boosted its holdings in QUALCOMM by 48.7% in the fourth quarter. Choreo LLC now owns 8,269 shares of the wireless technology company’s stock valued at $1,196,000 after purchasing an additional 2,707 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $3.54 on Monday, hitting $169.20. The company’s stock had a trading volume of 6,609,524 shares, compared to its average volume of 8,500,309. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock’s 50-day moving average is $165.84 and its two-hundred day moving average is $144.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market capitalization of $188.83 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of QUALCOMM 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 directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were 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 in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QCOM shares. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Barclays boosted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.