RNC Capital Management LLC Acquires 1,200 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

RNC Capital Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,441 shares of the wireless technology company’s stock after buying an additional 1,200 shares during the quarter. RNC Capital Management LLC’s holdings in QUALCOMM were worth $10,188,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. grew its position in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after buying an additional 42,500 shares during the period. HF Advisory Group LLC bought a new stake in QUALCOMM during the third quarter valued at approximately $629,000. DnB Asset Management AS grew its position in QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock valued at $100,893,000 after buying an additional 215,522 shares during the period. Sather Financial Group Inc grew its position in QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock valued at $36,377,000 after buying an additional 18,090 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after buying an additional 7,682 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock valued at $5,457,048 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. KeyCorp upped their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $169.13 on Thursday. The firm has a market cap of $188.75 billion, a price-to-earnings ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. The firm has a fifty day moving average price of $157.05 and a 200 day moving average price of $135.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

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.