Los Angeles Capital Management LLC Has $68.71 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Los Angeles Capital Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 899.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 475,064 shares of the wireless technology company’s stock after buying an additional 427,516 shares during the period. Los Angeles Capital Management LLC’s holdings in QUALCOMM were worth $68,709,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of QCOM. Peoples Bank OH bought a new position in shares of QUALCOMM in the fourth quarter worth about $219,000. HF Advisory Group LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $629,000. Bank Hapoalim BM lifted its stake in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC boosted its position in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. grew its stake in shares of QUALCOMM by 6.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 9.0 %

Shares of QCOM stock traded up $14.71 during mid-day trading on Thursday, hitting $178.82. The company’s stock had a trading volume of 19,167,433 shares, compared to its average volume of 8,657,833. The company has a market cap of $199.56 billion, a PE ratio of 26.01, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company’s fifty day simple moving average is $166.69 and its 200-day simple moving average is $145.87. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $181.69.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.90%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QCOM shares. Mizuho increased their price target on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley increased their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. HSBC upped their price objective on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barclays lifted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $177.50.

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.