SlateStone Wealth LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

SlateStone Wealth LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,597 shares of the wireless technology company’s stock after buying an additional 120 shares during the period. SlateStone Wealth LLC’s holdings in QUALCOMM were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Seizert Capital Partners LLC lifted its position in shares of QUALCOMM by 9.1% during the third quarter. Seizert Capital Partners LLC now owns 64,750 shares of the wireless technology company’s stock worth $11,011,000 after purchasing an additional 5,410 shares during the last quarter. Accredited Investors Inc. lifted its position in shares of QUALCOMM by 11.7% during the third quarter. Accredited Investors Inc. now owns 2,384 shares of the wireless technology company’s stock worth $405,000 after purchasing an additional 250 shares during the last quarter. Sather Financial Group Inc lifted its position in shares of QUALCOMM by 0.3% during the third quarter. Sather Financial Group Inc now owns 344,144 shares of the wireless technology company’s stock worth $58,522,000 after purchasing an additional 1,166 shares during the last quarter. GoalVest Advisory LLC lifted its position in shares of QUALCOMM by 180.9% during the third quarter. GoalVest Advisory LLC now owns 323 shares of the wireless technology company’s stock worth $55,000 after purchasing an additional 208 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of QUALCOMM during the third quarter worth about $523,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred 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 in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $156.58 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $173.18 billion, a PE ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company’s 50 day simple moving average is $164.68 and its 200 day simple moving average is $164.40.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.