Davidson Investment Advisors Has $10.27 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Davidson Investment Advisors raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2,246.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,878 shares of the wireless technology company's stock after buying an additional 64,028 shares during the quarter. Davidson Investment Advisors' holdings in QUALCOMM were worth $10,273,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. WFA Asset Management Corp acquired a new position in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares during the period. Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM in the 4th quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on QCOM shares. Robert W. Baird cut their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Loop Capital cut their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Citigroup increased their price objective on shares of QUALCOMM from $145.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $188.00.

QUALCOMM Stock Performance

QCOM traded up $1.36 during trading hours on Tuesday, reaching $159.45. The company's stock had a trading volume of 6,874,128 shares, compared to its average volume of 8,541,273. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The company's 50-day moving average is $151.53 and its 200-day moving average is $155.01. 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 firm has a market cap of $175.08 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The company's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,747 shares of company stock valued at $8,402,174. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Company 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.