Waverton Investment Management Ltd Has $246.50 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Waverton Investment Management Ltd boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,604,898 shares of the wireless technology company's stock after acquiring an additional 66,089 shares during the period. QUALCOMM accounts for 3.8% of Waverton Investment Management Ltd's portfolio, making the stock its 9th largest position. Waverton Investment Management Ltd owned 0.15% of QUALCOMM worth $246,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Eagle Strategies LLC increased its stake in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its position in 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 buying an additional 59 shares during the last quarter. PDS Planning Inc increased its position in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after buying an additional 64 shares during the last quarter. Cassady Schiller Wealth Management LLC raised its stake in shares of QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after buying an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. lifted its position in shares of QUALCOMM by 2.9% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock valued at $371,000 after buying an additional 67 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup reduced their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Finally, Loop Capital decreased 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. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus price target of $186.96.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $158.19 on Friday. The firm has a market capitalization of $173.69 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. 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 12 month low of $120.80 and a 12 month high of $211.09. The business's 50-day moving average price is $149.00 and its 200-day moving average price is $154.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates 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 firm earned $2.44 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

Insider Activity

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. Insiders own 0.08% of the company's stock.

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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