Silvercrest Asset Management Group LLC Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Silvercrest Asset Management Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,512 shares of the wireless technology company’s stock after acquiring an additional 9,913 shares during the period. Silvercrest Asset Management Group LLC’s holdings in QUALCOMM were worth $7,536,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QCOM. Norges Bank bought a new stake in QUALCOMM in the 4th quarter worth $2,507,978,000. Matrix Capital Management Company LP bought a new stake in QUALCOMM in the 1st quarter worth $1,171,516,000. International Assets Investment Management LLC grew its holdings in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in QUALCOMM by 8.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 34.8% during the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on QCOM. Mizuho lifted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Argus lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Benchmark reissued a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.63.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock valued at $8,552,835 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 6.5 %

Shares of QUALCOMM stock opened at $166.94 on Wednesday. The company has a market cap of $186.31 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The company’s 50 day moving average is $203.13 and its 200 day moving average is $178.00. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.84 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.