Victory Capital Management Inc. Purchases 344,235 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Victory Capital Management Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 24.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,732,471 shares of the wireless technology company’s stock after purchasing an additional 344,235 shares during the period. Victory Capital Management Inc. owned about 0.16% of QUALCOMM worth $250,567,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QCOM. Raymond James Financial Services Advisors Inc. grew its holdings in QUALCOMM by 3.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 924,656 shares of the wireless technology company’s stock valued at $102,692,000 after purchasing an additional 32,394 shares during the last quarter. Simon Quick Advisors LLC boosted its position in QUALCOMM by 10.6% in the 3rd quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company’s stock valued at $308,000 after buying an additional 265 shares during the period. Forza Wealth Management LLC boosted its position in QUALCOMM by 3.7% in the 3rd quarter. Forza Wealth Management LLC now owns 3,481 shares of the wireless technology company’s stock valued at $387,000 after buying an additional 125 shares during the period. Independent Advisor Alliance boosted its position in QUALCOMM by 1.4% in the 3rd quarter. Independent Advisor Alliance now owns 38,972 shares of the wireless technology company’s stock valued at $4,328,000 after buying an additional 557 shares during the period. Finally, Legacy Financial Group LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 1.0 %

NASDAQ:QCOM opened at $164.11 on Thursday. The firm has a market capitalization of $183.15 billion, a P/E ratio of 23.78, a PEG ratio of 2.27 and a beta of 1.33. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company’s fifty day moving average price is $166.69 and its 200-day moving average price is $145.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. 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 yield of 2.07%. QUALCOMM’s dividend payout ratio is 46.38%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. HSBC upped their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. Wolfe Research upped their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Bank of America upped their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.68.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock valued at $5,973,728. Corporate insiders own 0.08% of the company’s stock.

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.