Citizens Financial Group Inc. RI Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Citizens Financial Group Inc. RI raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 24.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,809 shares of the wireless technology company’s stock after purchasing an additional 960 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in QUALCOMM were worth $696,000 at the end of the most recent quarter.

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

QUALCOMM Stock Up 1.4 %

QCOM opened at $165.66 on Friday. 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 firm has a 50 day moving average price of $165.84 and a 200-day moving average price of $144.70. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The stock has a market capitalization of $184.88 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. 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 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Mizuho boosted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. Insiders own 0.08% of the company’s stock.

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.