Clearbridge Investments LLC Has $27.34 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Clearbridge Investments LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 177,954 shares of the wireless technology company’s stock after purchasing an additional 5,348 shares during the quarter. Clearbridge Investments LLC’s holdings in QUALCOMM were worth $27,337,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth about $29,000. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 0.4 %

QCOM opened at $153.05 on Wednesday. QUALCOMM Incorporated has a twelve month low of $147.88 and a twelve month high of $230.63. The company’s 50-day moving average price is $163.66 and its two-hundred day moving average price is $163.64. The stock has a market cap of $169.27 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred 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. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is currently owned by insiders.

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.