QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lifted by Mengis Capital Management Inc.

Mengis Capital Management Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,503 shares of the wireless technology company’s stock after purchasing an additional 1,437 shares during the period. QUALCOMM comprises approximately 2.2% of Mengis Capital Management Inc.’s holdings, making the stock its 10th largest position. Mengis Capital Management Inc.’s holdings in QUALCOMM were worth $10,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM during the third quarter valued at approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM in the fourth quarter worth approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 2.6 %

Shares of QCOM stock opened at $161.10 on Tuesday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market cap of $178.18 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a fifty day moving average of $164.52 and a 200-day moving average of $165.81.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. This represents a 31.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays decreased 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. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.