SlateStone Wealth LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

SlateStone Wealth LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,809 shares of the wireless technology company’s stock after buying an additional 172 shares during the quarter. SlateStone Wealth LLC’s holdings in QUALCOMM were worth $551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Roble Belko & Company Inc increased its holdings in shares of QUALCOMM by 62.7% during the 4th quarter. Roble Belko & Company Inc now owns 3,005 shares of the wireless technology company’s stock worth $435,000 after buying an additional 1,158 shares during the last quarter. Larson Financial Group LLC raised its position in QUALCOMM by 252.8% in the fourth quarter. Larson Financial Group LLC now owns 5,528 shares of the wireless technology company’s stock valued at $800,000 after purchasing an additional 3,961 shares during the period. Illinois Municipal Retirement Fund raised its position in QUALCOMM by 13.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 174,420 shares of the wireless technology company’s stock valued at $25,226,000 after purchasing an additional 20,025 shares during the period. SC&H Financial Advisors Inc. purchased a new position in QUALCOMM in the fourth quarter valued at about $217,000. Finally, California Public Employees Retirement System raised its position in QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.2 %

NASDAQ QCOM traded up $1.93 on Tuesday, hitting $162.11. 3,231,495 shares of the stock were exchanged, compared to its average volume of 8,555,752. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market capitalization of $180.91 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The company’s 50-day moving average price is $165.01 and its two-hundred day moving average price is $143.47.

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 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 predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date of this dividend is 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 yield of 2.10%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Finally, Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.