Pinnacle Financial Partners Inc Has $27.78 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Financial Partners Inc increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,864 shares of the wireless technology company's stock after buying an additional 5,404 shares during the quarter. Pinnacle Financial Partners Inc's holdings in QUALCOMM were worth $27,784,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi lifted its stake in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in QUALCOMM during the fourth quarter worth $527,053,000. GAMMA Investing LLC boosted its holdings in shares of QUALCOMM by 20,700.4% in the 1st 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 in the last quarter. Finally, Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% in 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 during the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,797 shares of company stock valued at $8,672,710 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock traded down $0.22 during mid-day trading on Thursday, hitting $162.11. The company's stock had a trading volume of 4,280,773 shares, compared to its average volume of 8,538,196. The company has a market cap of $177.99 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. 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 company's fifty day simple moving average is $151.05 and its 200-day simple moving average is $154.90. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS 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 business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The firm's revenue was up 17.0% on a year-over-year basis. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is presently 36.25%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Susquehanna lowered their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Finally, Robert W. Baird cut their target price 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $186.96.

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.