Sage Rhino Capital LLC Has $530,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sage Rhino Capital LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,666 shares of the wireless technology company’s stock after purchasing an additional 171 shares during the period. Sage Rhino Capital LLC’s holdings in QUALCOMM were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of QCOM. Vanguard Group Inc. lifted its position in shares of QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares during the last quarter. Morgan Stanley lifted its position in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Northern Trust Corp lifted its position in shares of QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after buying an additional 415,398 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of QUALCOMM by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock worth $1,226,109,000 after buying an additional 90,163 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after buying an additional 1,253,173 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Cantor Fitzgerald lifted their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Benchmark initiated coverage on QUALCOMM in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.68.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM traded down $3.35 on Tuesday, hitting $165.85. The company’s stock had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The company has a market capitalization of $185.09 billion, a PE ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.41. 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 Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a 50 day moving average price of $166.17 and a 200 day moving average price of $145.34.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. 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.