Naviter Wealth LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Naviter Wealth LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 44.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,280 shares of the wireless technology company’s stock after buying an additional 2,834 shares during the quarter. Naviter Wealth LLC’s holdings in QUALCOMM were worth $1,342,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Legacy Financial Group LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC lifted its holdings in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of QUALCOMM by 184.3% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 163,963 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $168.99 on Tuesday. The stock has a fifty day moving average price of $166.17 and a 200 day moving average price of $145.34. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The firm has a market capitalization of $188.59 billion, a P/E ratio of 24.52, a PEG ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share 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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the business’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 owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler upped their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Canaccord Genuity Group increased their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

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.