Vest Financial LLC Buys 59,366 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vest Financial LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,772 shares of the wireless technology company’s stock after acquiring an additional 59,366 shares during the quarter. Vest Financial LLC’s holdings in QUALCOMM were worth $35,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp boosted its holdings in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Down 0.8 %

QUALCOMM stock opened at $167.96 on Friday. QUALCOMM Incorporated has a fifty-two week low of $146.29 and a fifty-two week high of $230.63. The firm’s 50-day simple moving average is $161.96 and its 200 day simple moving average is $166.04. The stock has a market cap of $185.76 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.02%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Company 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.