Foster & Motley Inc. Has $606,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Foster & Motley Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 78.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,188 shares of the wireless technology company’s stock after purchasing an additional 1,847 shares during the period. Foster & Motley Inc.’s holdings in QUALCOMM were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RWA Wealth Partners LLC grew its stake in shares of QUALCOMM by 92.1% in the fourth quarter. RWA Wealth Partners LLC now owns 146,771 shares of the wireless technology company’s stock valued at $21,228,000 after buying an additional 70,363 shares in the last quarter. Sage Mountain Advisors LLC grew its stake in shares of QUALCOMM by 5.3% in the fourth quarter. Sage Mountain Advisors LLC now owns 4,292 shares of the wireless technology company’s stock valued at $621,000 after buying an additional 217 shares in the last quarter. Monument Capital Management bought a new position in shares of QUALCOMM in the fourth quarter valued at $414,000. Kelman Lazarov Inc. bought a new position in QUALCOMM during the fourth quarter worth $235,000. Finally, Significant Wealth Partners LLC bought a new position in QUALCOMM during the fourth quarter worth $586,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was 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 directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity Group lifted their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. KeyCorp lifted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Up 0.7 %

Shares of NASDAQ QCOM opened at $161.35 on Wednesday. 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 company has a market cap of $180.07 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.20 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock has a 50-day moving average price of $165.24 and a two-hundred day moving average price of $143.83.

QUALCOMM (NASDAQ:QCOM) last issued 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 firm had revenue of $9.94 billion during 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%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

About QUALCOMM

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.