SFE Investment Counsel Has $13.59 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

SFE Investment Counsel lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,927 shares of the wireless technology company’s stock after selling 2,579 shares during the quarter. QUALCOMM accounts for 3.5% of SFE Investment Counsel’s portfolio, making the stock its 3rd largest position. SFE Investment Counsel’s holdings in QUALCOMM were worth $13,585,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cambridge Trust Co. lifted its holdings in shares of QUALCOMM by 59.8% in the 4th quarter. Cambridge Trust Co. now owns 10,735 shares of the wireless technology company’s stock worth $1,553,000 after acquiring an additional 4,016 shares during the last quarter. Smead Capital Management Inc. lifted its holdings in shares of QUALCOMM by 0.7% in the 4th quarter. Smead Capital Management Inc. now owns 747,576 shares of the wireless technology company’s stock worth $108,122,000 after acquiring an additional 5,230 shares during the last quarter. Twin Capital Management Inc. increased its stake in QUALCOMM by 133.4% in the 4th quarter. Twin Capital Management Inc. now owns 21,558 shares of the wireless technology company’s stock worth $3,118,000 after buying an additional 12,322 shares during the period. Federated Hermes Inc. increased its stake in QUALCOMM by 197.6% in the 4th quarter. Federated Hermes Inc. now owns 32,232 shares of the wireless technology company’s stock worth $4,662,000 after buying an additional 21,403 shares during the period. Finally, HF Advisory Group LLC increased its stake in QUALCOMM by 8.7% in the 4th quarter. HF Advisory Group LLC now owns 6,015 shares of the wireless technology company’s stock worth $870,000 after buying an additional 479 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $3.12 on Thursday, hitting $161.20. The company had a trading volume of 5,261,240 shares, compared to its average volume of 8,557,064. The company has a market capitalization of $179.90 billion, a PE ratio of 23.67, a PEG ratio of 2.30 and a beta of 1.41. The company’s fifty day moving average price is $164.47 and its 200-day moving average price is $142.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is presently 46.38%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Susquehanna raised their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group raised their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. KeyCorp raised their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Rosenblatt Securities raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.90.

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.