Lindbrook Capital LLC Acquires 774 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lindbrook Capital LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,329 shares of the wireless technology company’s stock after purchasing an additional 774 shares during the period. Lindbrook Capital LLC’s holdings in QUALCOMM were worth $771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% during the third 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 in the last quarter. State Street Corp increased its position in shares of QUALCOMM by 2.5% during the first 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 in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of QUALCOMM by 117,461.0% during the fourth 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 in the last quarter. Morgan Stanley increased its position in shares of QUALCOMM by 22.2% during the fourth 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 in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of QUALCOMM by 7.0% during the second 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 in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was 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 in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $3.81 on Friday, hitting $157.63. 10,292,182 shares of the company’s stock were exchanged, compared to its average volume of 6,247,785. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a 50-day simple moving average of $164.87 and a 200-day simple moving average of $142.89. The stock has a market capitalization of $175.92 billion, a PE ratio of 22.84, a PEG ratio of 2.15 and a beta of 1.41.

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

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s payout ratio is 46.38%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. Mizuho raised their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Rosenblatt Securities raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM 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.