Northcape Wealth Management LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Northcape Wealth Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,491 shares of the wireless technology company’s stock after selling 494 shares during the quarter. Northcape Wealth Management LLC’s holdings in QUALCOMM were worth $2,096,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Glass Jacobson Investment Advisors llc increased its holdings in shares of QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Means Investment CO. Inc. boosted its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after buying an additional 71 shares in the last quarter. Marino Stram & Associates LLC grew its position in shares of QUALCOMM by 2.5% in the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after buying an additional 73 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its stake in QUALCOMM by 6.1% during the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after acquiring an additional 79 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $3.35 during trading on Tuesday, reaching $165.85. The company had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The business’s 50 day moving average price is $166.17 and its 200-day moving average price is $145.34. The stock has a market cap of $185.09 billion, a PE ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on QCOM. Mizuho lifted their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Benchmark assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target for the company. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.68.

Insider Activity at QUALCOMM

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

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.