Zevenbergen Capital Investments LLC Acquires 285 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Zevenbergen Capital Investments LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,112 shares of the wireless technology company’s stock after purchasing an additional 285 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in QUALCOMM were worth $18,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $29,000. Synergy Asset Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at about $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.82 on Monday. The company has a fifty day simple moving average of $164.51 and a 200-day simple moving average of $163.97. The firm has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.