Venturi Wealth Management LLC Acquires 20,075 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Venturi Wealth Management LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,704 shares of the wireless technology company's stock after acquiring an additional 20,075 shares during the quarter. Venturi Wealth Management LLC's holdings in QUALCOMM were worth $15,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the period. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth $2,721,882,000. Northern Trust Corp boosted its position in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in QUALCOMM by 17.0% during the 4th 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 worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the period. Finally, Franklin Resources Inc. boosted its position in QUALCOMM by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company's stock worth $1,158,654,000 after acquiring an additional 709,644 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock worth $8,310,735 in the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.44 during trading hours on Friday, hitting $158.40. 4,788,691 shares of the company were exchanged, compared to its average volume of 8,329,638. The firm has a fifty day simple moving average of $154.48 and a 200 day simple moving average of $155.04. 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 52-week low of $120.80 and a 52-week high of $182.64. The stock has a market capitalization of $173.92 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 EPS. Research analysts predict 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. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Analyst Ratings Changes

A number of brokerages have issued reports on QCOM. UBS Group boosted their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday. Loop Capital cut their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company cut 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. Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. Finally, Cantor Fitzgerald restated 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, fourteen have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $184.86.

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.