Azimuth Capital Investment Management LLC Has $1.59 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Azimuth Capital Investment Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,365 shares of the wireless technology company’s stock after selling 203 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in QUALCOMM were worth $1,592,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake 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 valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $2,058,000. Burney Co. increased its stake in shares of QUALCOMM by 665.6% in the fourth 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 during the period. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $240,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $143.59 on Thursday. The stock has a market capitalization of $158.81 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $157.89 and a two-hundred day moving average price of $161.88.

QUALCOMM (NASDAQ:QCOM) last announced 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%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.37%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Analyst Upgrades and Downgrades

Several research analysts have commented on QCOM shares. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $202.64.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,018 shares of company stock worth $4,955,613. 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.