20,111 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,111 shares of the wireless technology company's stock, valued at approximately $3,089,000. QUALCOMM accounts for about 2.0% of Sovereign s Capital Management LLC's investment portfolio, making the stock its 21st biggest position.

Several other hedge funds also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $29,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM during the fourth quarter worth $33,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Down 1.6%

Shares of QCOM traded down $2.51 on Wednesday, reaching $151.31. The company's stock had a trading volume of 9,679,430 shares, compared to its average volume of 8,897,575. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock has a market capitalization of $166.14 billion, a PE ratio of 16.17, a PEG ratio of 2.01 and a beta of 1.29. The firm has a fifty day moving average of $145.89 and a 200-day moving average of $156.67.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 in the last quarter. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Loop Capital lowered their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reiterated 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 target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Finally, TD Cowen reduced 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $192.08.

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.