Wilmington Savings Fund Society FSB Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wilmington Savings Fund Society FSB grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 59,563 shares of the wireless technology company’s stock after acquiring an additional 3,895 shares during the period. Wilmington Savings Fund Society FSB’s holdings in QUALCOMM were worth $9,150,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,981 shares of company stock worth $4,000,870. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $167.96 on Friday. The business’s 50-day moving average price is $161.96 and its 200 day moving average price is $166.04. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $185.76 billion, a P/E ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $146.29 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 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.