QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Raised by Advisors Capital Management LLC

Advisors Capital Management LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 427,231 shares of the wireless technology company’s stock after purchasing an additional 20,834 shares during the period. QUALCOMM comprises approximately 1.3% of Advisors Capital Management LLC’s portfolio, making the stock its 10th largest holding. Advisors Capital Management LLC’s holdings in QUALCOMM were worth $72,330,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Council LLC bought a new position in QUALCOMM in the first quarter worth approximately $213,000. Texas Permanent School Fund Corp boosted its position in QUALCOMM by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 230,687 shares of the wireless technology company’s stock valued at $39,055,000 after acquiring an additional 887 shares in the last quarter. 9258 Wealth Management LLC boosted its position in QUALCOMM by 0.9% during the 1st quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after acquiring an additional 91 shares in the last quarter. Gould Asset Management LLC CA bought a new stake in QUALCOMM during the 1st quarter valued at $226,000. Finally, WBI Investments LLC boosted its position in QUALCOMM by 50.3% during the 1st quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after acquiring an additional 4,387 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. HSBC increased their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Benchmark reiterated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a report on Friday, May 3rd. UBS Group increased their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, Susquehanna increased 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $192.96.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock worth $8,552,835. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $8.95 during trading on Thursday, reaching $199.85. 8,572,221 shares of the company traded hands, compared to its average volume of 9,179,811. The firm’s fifty day simple moving average is $202.70 and its 200 day simple moving average is $173.15. The stock has a market cap of $223.03 billion, a P/E ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.27. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

QUALCOMM Company 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.