SlateStone Wealth LLC Purchases 120 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SlateStone Wealth LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,597 shares of the wireless technology company’s stock after acquiring an additional 120 shares during the period. SlateStone Wealth LLC’s holdings in QUALCOMM were worth $553,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. Amundi raised its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Bank of New York Mellon Corp raised its holdings in QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after purchasing an additional 193,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after acquiring an additional 498,284 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 3.1 %

Shares of QUALCOMM stock opened at $156.58 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a market capitalization of $173.18 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a 50 day moving average price of $164.68 and a 200 day moving average price of $164.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on QCOM shares. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.