QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lifted by Adalta Capital Management LLC

Adalta Capital Management LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,086 shares of the wireless technology company’s stock after buying an additional 200 shares during the quarter. QUALCOMM comprises 4.5% of Adalta Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Adalta Capital Management LLC’s holdings in QUALCOMM were worth $8,616,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in QUALCOMM in the fourth quarter worth about $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now directly owns 53,112 shares of the company’s stock, valued at $7,423,464.24. This trade represents a 5.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,312 shares of company stock valued at $1,948,379. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.82 on Wednesday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The business has a 50-day moving average price of $145.99 and a 200-day moving average price of $156.70. 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 firm has a market cap of $168.89 billion, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the prior year, the firm earned $2.44 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.31%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QCOM. Wells Fargo & Company lowered their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Benchmark reduced their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and an average target price of $192.08.

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.