Envestnet Asset Management Inc. Acquires 193,279 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Envestnet Asset Management Inc. boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,398,617 shares of the wireless technology company's stock after buying an additional 193,279 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of QUALCOMM worth $368,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Insigneo Advisory Services LLC grew its stake in QUALCOMM by 30.9% during the third quarter. Insigneo Advisory Services LLC now owns 6,246 shares of the wireless technology company's stock worth $1,062,000 after purchasing an additional 1,476 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 10.8% in the third quarter. EP Wealth Advisors LLC now owns 97,961 shares of the wireless technology company's stock valued at $16,658,000 after purchasing an additional 9,562 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in QUALCOMM by 3.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 170,013 shares of the wireless technology company's stock worth $28,911,000 after acquiring an additional 6,117 shares during the last quarter. Zacks Investment Management boosted its holdings in QUALCOMM by 3.8% during the third quarter. Zacks Investment Management now owns 592,257 shares of the wireless technology company's stock worth $100,713,000 after purchasing an additional 21,792 shares during the last quarter. Finally, World Investment Advisors LLC grew its holdings in shares of QUALCOMM by 1,212.6% in the third quarter. World Investment Advisors LLC now owns 146,764 shares of the wireless technology company's stock valued at $24,957,000 after acquiring an additional 135,583 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts recently issued reports on QCOM shares. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reissued a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $202.64.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,018 shares of company stock valued at $4,955,613. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 15.2 %

Shares of NASDAQ QCOM traded up $18.93 during midday trading on Wednesday, hitting $143.59. 21,215,139 shares of the company traded hands, compared to its average volume of 8,825,059. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a 50-day moving average price of $157.89 and a 200 day moving average price of $161.88. The firm has a market cap of $158.81 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.37%. QUALCOMM's dividend payout ratio is currently 36.32%.

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.