Grimes & Company Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Grimes & Company Inc. grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,940 shares of the wireless technology company’s stock after acquiring an additional 3,274 shares during the period. QUALCOMM accounts for 0.7% of Grimes & Company Inc.’s portfolio, making the stock its 28th largest holding. Grimes & Company Inc.’s holdings in QUALCOMM were worth $25,953,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QCOM. Linden Thomas Advisory Services LLC raised its position in shares of QUALCOMM by 7.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 15,799 shares of the wireless technology company’s stock valued at $2,427,000 after purchasing an additional 1,073 shares during the period. Cyndeo Wealth Partners LLC raised its position in shares of QUALCOMM by 34.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 4,258 shares of the wireless technology company’s stock valued at $654,000 after purchasing an additional 1,097 shares during the period. Accel Wealth Management raised its position in shares of QUALCOMM by 3.8% during the 4th quarter. Accel Wealth Management now owns 3,848 shares of the wireless technology company’s stock valued at $591,000 after purchasing an additional 140 shares during the period. Exchange Traded Concepts LLC grew its stake in QUALCOMM by 5.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 304,158 shares of the wireless technology company’s stock valued at $46,725,000 after acquiring an additional 17,056 shares in the last quarter. Finally, CX Institutional grew its stake in QUALCOMM by 41.3% during the fourth quarter. CX Institutional now owns 35,259 shares of the wireless technology company’s stock valued at $5,417,000 after acquiring an additional 10,299 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 1.3 %

Shares of NASDAQ:QCOM opened at $172.11 on Friday. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a 50 day moving average of $159.49 and a two-hundred day moving average of $167.83.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Susquehanna decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. Company insiders own 0.08% of the company’s stock.

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.