Ascent Wealth Partners LLC Has $8.69 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Ascent Wealth Partners LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,595 shares of the wireless technology company’s stock after purchasing an additional 710 shares during the quarter. QUALCOMM makes up 1.2% of Ascent Wealth Partners LLC’s holdings, making the stock its 25th biggest holding. Ascent Wealth Partners LLC’s holdings in QUALCOMM were worth $8,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,702.6% in the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after acquiring an additional 3,014,302 shares during the period. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of 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 valued at $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Two Sigma Advisers LP grew its holdings in QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after buying an additional 1,380,500 shares in the last quarter. Finally, State Street Corp grew its holdings in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QCOM. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 4.8 %

Shares of QCOM opened at $165.43 on Friday. The stock has a fifty day simple moving average of $164.46 and a two-hundred day simple moving average of $165.77. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $182.97 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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 forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the company’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 transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock valued at $7,713,734 over the last quarter. Company insiders own 0.08% of the company’s stock.

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.