QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 65,062 shares of the wireless technology company’s stock after buying an additional 4,806 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in QUALCOMM were worth $9,995,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $29,000. Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM during the 3rd quarter valued at about $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM 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 value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 0.9 %

Shares of NASDAQ:QCOM opened at $157.95 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $174.69 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The firm has a 50 day simple moving average of $164.64 and a 200 day simple moving average of $164.32.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

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.