QUALCOMM Incorporated (NASDAQ:QCOM) is Spring Capital Management LLC’s 3rd Largest Position

Spring Capital Management LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,498 shares of the wireless technology company’s stock after selling 1,017 shares during the period. QUALCOMM comprises 6.0% of Spring Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Spring Capital Management LLC’s holdings in QUALCOMM were worth $7,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. raised its position in QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after purchasing an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in QUALCOMM by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares during the last quarter. Merit Financial Group LLC raised its position in QUALCOMM by 25.2% in the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after purchasing an additional 555 shares during the last quarter. NewEdge Advisors LLC raised its position in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after buying an additional 79,827 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,360 shares of company stock worth $5,457,048. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Monday, March 4th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. KeyCorp increased their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Piper Sandler increased their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Stock Performance

QUALCOMM stock opened at $168.43 on Thursday. The company has a market cap of $187.97 billion, a PE ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. The company has a fifty day moving average price of $157.05 and a two-hundred day moving average price of $135.64. 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 12 month low of $101.47 and a 12 month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.50 billion. Research analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.90%. QUALCOMM’s payout ratio is presently 46.38%.

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.