Carret Asset Management LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Carret Asset Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,562 shares of the wireless technology company’s stock after purchasing an additional 391 shares during the period. Carret Asset Management LLC’s holdings in QUALCOMM were worth $1,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Legacy Financial Group LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $29,000. Fortitude Family Office LLC acquired a new position in QUALCOMM in the 4th quarter worth about $35,000. Cranbrook Wealth Management LLC raised its holdings in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. raised its holdings in QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred 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 of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.1 %

QUALCOMM stock traded down $1.72 during midday trading on Thursday, reaching $161.91. The company’s stock had a trading volume of 1,676,102 shares, compared to its average volume of 8,481,992. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $180.69 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.21 and a beta of 1.41. The business has a 50-day simple moving average of $165.43 and a 200-day simple moving average of $143.97.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on QCOM shares. Evercore ISI started coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

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.