TCTC Holdings LLC Purchases 464 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TCTC Holdings LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 262,384 shares of the wireless technology company’s stock after purchasing an additional 464 shares during the period. QUALCOMM comprises 1.4% of TCTC Holdings LLC’s investment portfolio, making the stock its 18th biggest position. TCTC Holdings LLC’s holdings in QUALCOMM were worth $40,307,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM in the 4th quarter worth about $2,058,000. Burney Co. grew its position in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM in the 4th quarter worth about $240,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $156.58 on Monday. The company’s 50 day simple moving average is $164.68 and its two-hundred day simple moving average is $164.40. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $173.18 billion, a PE ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.