QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Ethic Inc.

Ethic Inc. raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 116,657 shares of the wireless technology company’s stock after acquiring an additional 13,177 shares during the period. Ethic Inc.’s holdings in QUALCOMM were worth $17,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of QUALCOMM by 5.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,415,090 shares of the wireless technology company’s stock worth $240,636,000 after acquiring an additional 69,707 shares during the period. Ridgewood Investments LLC boosted its position in QUALCOMM by 43.8% during the fourth quarter. Ridgewood Investments LLC now owns 12,858 shares of the wireless technology company’s stock worth $1,975,000 after purchasing an additional 3,917 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in QUALCOMM by 3.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 12,730 shares of the wireless technology company’s stock valued at $1,956,000 after purchasing an additional 377 shares during the last quarter. Highline Wealth Partners LLC increased its position in shares of QUALCOMM by 9.7% in the fourth quarter. Highline Wealth Partners LLC now owns 11,146 shares of the wireless technology company’s stock valued at $1,712,000 after buying an additional 988 shares in the last quarter. Finally, HBW Advisory Services LLC raised its stake in shares of QUALCOMM by 15.5% during the 4th quarter. HBW Advisory Services LLC now owns 2,170 shares of the wireless technology company’s stock worth $333,000 after buying an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $145.03 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a 50 day moving average of $146.57 and a two-hundred day moving average of $157.74. The company has a market cap of $159.24 billion, a P/E ratio of 15.49, a P/E/G ratio of 2.01 and a beta of 1.29. 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 (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QCOM. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Citigroup dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $192.08.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated 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 in the company, 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. Insiders have sold 35,599 shares of company stock worth $5,733,290 in the last 90 days. 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.