Cresset Asset Management LLC Has $19.59 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cresset Asset Management LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 45.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,550 shares of the wireless technology company's stock after selling 105,217 shares during the quarter. Cresset Asset Management LLC's holdings in QUALCOMM were worth $19,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the last quarter. Geode Capital Management LLC grew its holdings in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the 4th quarter worth about $2,721,882,000. Amundi raised its position in shares of 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 acquiring an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $192.58.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm'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 transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock valued at $5,733,290 over the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $139.90 on Wednesday. The company has a market capitalization of $153.61 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company's 50-day moving average is $146.99 and its 200 day moving average is $158.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

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.

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