Stockman Wealth Management Inc. Has $978,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Stockman Wealth Management Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,764 shares of the wireless technology company’s stock after selling 273 shares during the quarter. Stockman Wealth Management Inc.’s holdings in QUALCOMM were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Roble Belko & Company Inc boosted its holdings in QUALCOMM by 62.7% during the fourth quarter. Roble Belko & Company Inc now owns 3,005 shares of the wireless technology company’s stock worth $435,000 after buying an additional 1,158 shares during the last quarter. Larson Financial Group LLC boosted its holdings in QUALCOMM by 252.8% during the fourth quarter. Larson Financial Group LLC now owns 5,528 shares of the wireless technology company’s stock worth $800,000 after buying an additional 3,961 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in QUALCOMM by 13.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 174,420 shares of the wireless technology company’s stock worth $25,226,000 after buying an additional 20,025 shares during the last quarter. SC&H Financial Advisors Inc. bought a new position in QUALCOMM during the fourth quarter worth about $217,000. Finally, California Public Employees Retirement System boosted its holdings in QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after buying an additional 1,090,504 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ:QCOM traded up $2.55 during trading on Monday, hitting $160.18. 7,847,503 shares of the company were exchanged, compared to its average volume of 8,626,261. The stock has a market cap of $178.76 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The firm has a fifty day moving average price of $165.01 and a two-hundred day moving average price of $143.47. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock valued at $5,973,728 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on QCOM shares. Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Citigroup cut 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. Mizuho lifted their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus 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.