Highland Capital Management LLC Has $12.06 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Highland Capital Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,539 shares of the wireless technology company's stock after purchasing an additional 19,110 shares during the quarter. Highland Capital Management LLC's holdings in QUALCOMM were worth $12,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM in the fourth quarter worth approximately $26,000. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter worth approximately $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM in the fourth quarter worth approximately $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen cut their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus target price of $186.96.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction on Monday, April 7th. The stock was 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 of the company's stock, valued at $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 is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.54 on Friday. The stock has a fifty day simple moving average of $149.44 and a two-hundred day simple moving average of $154.84. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $211.09. The firm has a market cap of $174.08 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating 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 business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. Analysts anticipate 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 was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.25%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

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.

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