Chicago Capital LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Chicago Capital LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,140 shares of the wireless technology company's stock after buying an additional 2,072 shares during the period. Chicago Capital LLC's holdings in QUALCOMM were worth $6,320,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in QUALCOMM in the 4th quarter worth about $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% in the fourth 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 during the period. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $527,053,000. GAMMA Investing LLC lifted its position in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after purchasing an additional 3,247,068 shares during the period. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark reduced their price objective on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Finally, Bank of America dropped their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $190.28.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now owns 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 over the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $0.49 during trading hours on Wednesday, reaching $154.95. The stock had a trading volume of 1,519,446 shares, compared to its average volume of 8,446,348. The company has a 50 day moving average price of $146.71 and a two-hundred day moving average price of $155.12. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $225.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a market capitalization of $170.14 billion, a PE ratio of 15.78, a PEG ratio of 1.75 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 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 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.30%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) 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.