Seizert Capital Partners LLC Increases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Seizert Capital Partners LLC significantly increased its holdings in QUALCOMM by 377.4%, owning 322,705 shares valued at approximately $49.57 million as of the last quarter.
• QUALCOMM recently announced a quarterly dividend of $0.89 per share with a payment date set for September 25th, indicating a solid return policy with a yield of 2.20%.
• Insiders sold a total of 424,099 shares valued at over $8.3 million in the last quarter, showcasing a notable decrease in their ownership stakes.

Seizert Capital Partners LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 377.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,705 shares of the wireless technology company's stock after purchasing an additional 255,109 shares during the period. QUALCOMM accounts for 2.3% of Seizert Capital Partners LLC's holdings, making the stock its 15th biggest holding. Seizert Capital Partners LLC's holdings in QUALCOMM were worth $49,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Shields & Co. LLC increased its position in shares of QUALCOMM by 3.5% during the first quarter. Wellington Shields & Co. LLC now owns 5,900 shares of the wireless technology company's stock worth $906,000 after acquiring an additional 200 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in QUALCOMM by 2.2% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 10,040 shares of the wireless technology company's stock worth $1,542,000 after purchasing an additional 213 shares during the period. Arkadios Wealth Advisors raised its position in QUALCOMM by 81.0% during the 1st quarter. Arkadios Wealth Advisors now owns 52,566 shares of the wireless technology company's stock valued at $8,075,000 after purchasing an additional 23,525 shares in the last quarter. First National Trust Co lifted its holdings in shares of QUALCOMM by 129.4% in the 1st quarter. First National Trust Co now owns 48,681 shares of the wireless technology company's stock worth $7,478,000 after buying an additional 27,456 shares during the period. Finally, Tredje AP fonden grew its position in shares of QUALCOMM by 76.3% during the 1st quarter. Tredje AP fonden now owns 514,692 shares of the wireless technology company's stock worth $79,062,000 after buying an additional 222,720 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QUALCOMM stock traded down $3.02 during trading on Wednesday, reaching $159.06. The company had a trading volume of 14,086,123 shares, compared to its average volume of 6,463,369. The firm has a market capitalization of $174.65 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.26. The firm's 50-day simple moving average is $155.06 and its 200 day simple moving average is $155.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results 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 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 the consensus estimate of $10.58 billion. During the same quarter in the prior year, the firm earned $2.44 EPS. The company's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's payout ratio is 36.25%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Citigroup reaffirmed a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Finally, Wall Street Zen raised QUALCOMM from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $183.95.

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.