Silvercrest Asset Management Group LLC Has $16.52 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Silvercrest Asset Management Group LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 135.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,510 shares of the wireless technology company's stock after buying an additional 61,809 shares during the quarter. Silvercrest Asset Management Group LLC's holdings in QUALCOMM were worth $16,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, CoreFirst Bank & Trust acquired a new position in QUALCOMM during the fourth quarter worth $33,000. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $152.50 on Friday. The company's 50 day moving average price is $145.94 and its two-hundred day moving average price is $156.92. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The firm has a market cap of $167.45 billion, a PE ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business's revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.33%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Robert W. Baird reduced their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research note on Thursday, May 1st. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $192.08.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,312 shares of company stock worth $1,948,379. Corporate 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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