Stanley Laman Group Ltd. Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Stanley Laman Group Ltd. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,254 shares of the wireless technology company’s stock after selling 444 shares during the quarter. Stanley Laman Group Ltd.’s holdings in QUALCOMM were worth $3,508,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of QCOM. International Assets Investment Management LLC increased its holdings in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares in the last quarter. Barclays PLC increased its holdings in shares of QUALCOMM by 53.6% in the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after acquiring an additional 1,842,868 shares during the last quarter. Invesco Ltd. raised its position in shares of QUALCOMM by 15.7% during the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after acquiring an additional 1,253,173 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of QUALCOMM by 48.8% during the 4th quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after acquiring an additional 1,090,504 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Benchmark began coverage on shares of QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. Finally, Cantor Fitzgerald boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

Insider Transactions at QUALCOMM

In related news, 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 sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.33 on Thursday, reaching $163.30. 6,212,797 shares of the stock were exchanged, compared to its average volume of 8,540,617. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $182.24 billion, a PE ratio of 23.67, a PEG ratio of 2.21 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The business has a fifty day moving average price of $165.58 and a two-hundred day moving average price of $144.10.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

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.