Envestnet Asset Management Inc. Buys 193,279 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Envestnet Asset Management Inc. increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,398,617 shares of the wireless technology company’s stock after buying an additional 193,279 shares during the quarter. Envestnet Asset Management Inc. owned 0.22% of QUALCOMM worth $368,476,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter worth $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM during the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock opened at $127.46 on Friday. QUALCOMM Incorporated has a 1-year low of $126.68 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 firm has a market cap of $140.97 billion, a PE ratio of 13.62, a P/E/G ratio of 2.01 and a beta of 1.28. The business’s 50-day moving average price is $161.74 and its two-hundred day moving average price is $163.09.

QUALCOMM (NASDAQ:QCOM) last released 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%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.