Twin Capital Management Inc. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Twin Capital Management Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 86.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,963 shares of the wireless technology company's stock after buying an additional 19,034 shares during the period. QUALCOMM comprises about 0.7% of Twin Capital Management Inc.'s portfolio, making the stock its 26th biggest position. Twin Capital Management Inc.'s holdings in QUALCOMM were worth $6,292,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Eagle Strategies LLC increased its position in shares of 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 acquiring an additional 59 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of QUALCOMM by 3.6% in 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 in the last quarter. Umpqua Bank increased its position in shares of QUALCOMM by 4.2% in the fourth quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company's stock worth $264,000 after acquiring an additional 67 shares in the last quarter. Twin City Private Wealth LLC increased its position in shares of QUALCOMM by 1.4% in the fourth quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company's stock worth $754,000 after acquiring an additional 67 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after acquiring an additional 69 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna decreased their target price 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. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $186.00.

QUALCOMM Trading Up 1.4%

Shares of QCOM stock opened at $154.80 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24. The stock has a market cap of $169.97 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.00 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 firm has a fifty day moving average of $153.95 and a 200-day moving average of $154.98.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's dividend payout ratio is currently 36.25%.

Insiders Place Their Bets

In other news, 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 transaction, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. 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 currently owned by insiders.

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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