Fifth Third Bancorp Buys 16,296 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fifth Third Bancorp grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436,304 shares of the wireless technology company's stock after acquiring an additional 16,296 shares during the period. Fifth Third Bancorp's holdings in QUALCOMM were worth $73,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock worth $26,000 after buying an additional 122 shares during the period. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $29,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company's stock worth $30,000 after buying an additional 157 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $32,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on QCOM. Benchmark began coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They set a "buy" rating and a $200.00 price objective for the company. Cantor Fitzgerald restated a "neutral" rating and set a $190.00 price objective on shares of QUALCOMM in a report on Thursday. TD Cowen boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, February 1st. Finally, Bank of America boosted their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $179.36.

QUALCOMM Stock Up 9.7 %

QCOM traded up $15.99 during trading hours on Thursday, hitting $180.10. 25,880,542 shares of the company's stock were exchanged, compared to its average volume of 8,740,455. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $181.69. The stock's 50-day moving average is $167.20 and its two-hundred day moving average is $146.11. The stock has a market cap of $200.99 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.27 and a beta of 1.33. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.50 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM's dividend payout ratio is presently 46.38%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the sale, the chief technology officer now owns 269,893 shares of the company's stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is 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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