QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Smead Capital Management Inc.

Smead Capital Management Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 747,576 shares of the wireless technology company’s stock after buying an additional 5,230 shares during the period. QUALCOMM comprises approximately 1.9% of Smead Capital Management Inc.’s holdings, making the stock its 21st biggest position. Smead Capital Management Inc.’s holdings in QUALCOMM were worth $108,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. State Street Corp boosted its position in shares of QUALCOMM by 2.5% during the 1st quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after acquiring an additional 1,183,406 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares during the last quarter. Morgan Stanley boosted its position in shares of QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of QUALCOMM by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after acquiring an additional 1,178,546 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.9 %

Shares of QCOM stock traded down $3.19 during trading hours on Thursday, reaching $161.13. 4,133,430 shares of the stock were exchanged, compared to its average volume of 8,545,844. The business’s fifty day moving average is $164.47 and its two-hundred day moving average 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. The firm has a market capitalization of $179.82 billion, a P/E ratio of 23.67, a P/E/G ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced 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 firm 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, research analysts expect that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

Analyst Ratings Changes

QCOM has been the topic of several recent research reports. Piper Sandler boosted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday. They issued an “in-line” rating and a $177.00 price objective on the stock. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Finally, Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. 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 stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was 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 in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is currently owned by company insiders.

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.