QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Everence Capital Management Inc.

Everence Capital Management Inc. increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 51.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,330 shares of the wireless technology company's stock after purchasing an additional 12,610 shares during the quarter. Everence Capital Management Inc.'s holdings in QUALCOMM were worth $5,735,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter worth $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at about $26,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after buying an additional 114 shares during the period. Hershey Financial Advisers LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth approximately $42,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $36,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ:QCOM traded up $4.19 during trading hours on Friday, reaching $157.83. 5,885,155 shares of the company's stock were exchanged, compared to its average volume of 5,447,077. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $175.35 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $134.94 and a 1-year high of $230.63. The company has a 50-day moving average of $160.89 and a 200 day moving average of $172.78.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, October 16th. Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

QUALCOMM Company 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.