Kanawha Capital Management LLC Buys 1,573 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kanawha Capital Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,414 shares of the wireless technology company's stock after acquiring an additional 1,573 shares during the period. Kanawha Capital Management LLC's holdings in QUALCOMM were worth $13,120,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Strategies LLC increased its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares during the period. Clark Capital Management Group Inc. grew its position in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 59 shares during the last quarter. PDS Planning Inc increased its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. Cassady Schiller Wealth Management LLC lifted its position in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. Finally, Umpqua Bank boosted its stake in QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 67 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, May 5th. The stock was sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the sale, the chief financial officer owned 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated 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. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $186.96.

QUALCOMM Trading Up 1.8%

Shares of QCOM traded up $2.92 during midday trading on Wednesday, hitting $162.32. The stock had a trading volume of 8,911,691 shares, compared to its average volume of 8,529,469. The business has a 50-day simple moving average of $150.31 and a two-hundred day simple moving average of $154.82. The firm has a market cap of $178.23 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.06 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 Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

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, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. The company's revenue was up 17.0% on a year-over-year basis. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were paid a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.19%. The ex-dividend date was Thursday, June 5th. QUALCOMM's dividend 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.