Zevenbergen Capital Investments LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Zevenbergen Capital Investments LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,112 shares of the wireless technology company’s stock after buying an additional 285 shares during the quarter. Zevenbergen Capital Investments LLC’s holdings in QUALCOMM were worth $18,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $156.82 on Monday. The company has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company’s fifty day moving average price is $164.51 and its two-hundred day moving average price is $163.97. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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 analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 over the last 90 days. Corporate 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.