Van Strum & Towne Inc. Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Van Strum & Towne Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 39.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,424 shares of the wireless technology company's stock after acquiring an additional 6,577 shares during the period. QUALCOMM makes up 1.2% of Van Strum & Towne Inc.'s portfolio, making the stock its 27th biggest position. Van Strum & Towne Inc.'s holdings in QUALCOMM were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC lifted its holdings in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank bought a new position in QUALCOMM in the fourth quarter valued at about $2,721,882,000. Northern Trust Corp lifted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was 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 in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,310,735 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM traded up $2.80 during mid-day trading on Monday, reaching $157.60. The company had a trading volume of 479,567 shares, compared to its average volume of 8,450,061. The stock has a market capitalization of $173.05 billion, a P/E ratio of 16.05, a PEG ratio of 1.99 and a beta of 1.26. The stock has a 50 day moving average of $153.95 and a two-hundred day moving average of $154.99. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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 company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 earnings per share. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.26%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $186.00.

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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