Ieq Capital LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Ieq Capital LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 37.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,506 shares of the wireless technology company's stock after buying an additional 11,585 shares during the period. Ieq Capital LLC's holdings in QUALCOMM were worth $6,148,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Gravity Asset Management Inc. raised its stake in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the 4th quarter valued at $32,000. Cherry Tree Wealth Management LLC grew its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $35,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company's stock, valued at $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of the business's stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the sale, the chief technology officer now owns 253,893 shares of the company's stock, valued at $46,208,526. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,416 shares of company stock worth $9,804,298. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 0.9 %

QCOM stock traded up $1.54 during mid-day trading on Friday, hitting $182.08. 4,702,542 shares of the company were exchanged, compared to its average volume of 8,603,319. The firm has a market cap of $203.20 billion, a P/E ratio of 24.47, a P/E/G ratio of 2.25 and a beta of 1.33. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $184.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm's 50 day simple moving average is $169.95 and its 200 day simple moving average is $149.32.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.87%. QUALCOMM's dividend payout ratio is presently 43.01%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Robert W. Baird raised their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, May 2nd. Morgan Stanley boosted their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 2nd. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. HSBC boosted their target price on QUALCOMM from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, April 30th. Finally, UBS Group raised their price target on QUALCOMM from $165.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $180.48.

About QUALCOMM

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.