Metis Global Partners LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Metis Global Partners LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.2% in the 4th quarter, Holdings Channel reports. The firm owned 65,168 shares of the wireless technology company’s stock after buying an additional 4,939 shares during the period. Metis Global Partners LLC’s holdings in QUALCOMM were worth $9,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCI Wealth Advisors Inc. lifted its stake in shares of QUALCOMM by 2.1% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,923 shares of the wireless technology company’s stock worth $857,000 after purchasing an additional 123 shares during the period. Evergreen Wealth Management LLC boosted its stake in shares of QUALCOMM by 2.3% during the 4th quarter. Evergreen Wealth Management LLC now owns 15,230 shares of the wireless technology company’s stock worth $2,203,000 after acquiring an additional 346 shares during the last quarter. Fi3 FINANCIAL ADVISORS LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth $277,000. Connecticut Wealth Management LLC increased its stake in shares of QUALCOMM by 31.0% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,987 shares of the wireless technology company’s stock worth $432,000 after purchasing an additional 707 shares in the last quarter. Finally, Avalon Trust Co lifted its position in QUALCOMM by 520.0% during the fourth quarter. Avalon Trust Co now owns 341 shares of the wireless technology company’s stock valued at $49,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were 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 directly 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 accessible through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 0.3 %

Shares of QUALCOMM stock traded down $0.46 during trading on Friday, hitting $179.64. 10,043,912 shares of the stock traded hands, compared to its average volume of 8,171,053. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $183.19. The stock’s fifty day simple moving average is $167.69 and its 200 day simple moving average is $147.08. The firm has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 43.01%.

Analyst Upgrades and Downgrades

A number of analysts have commented on QCOM shares. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Robert W. Baird lifted their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group raised their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, TD Cowen upped their target price 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

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.