Van Strum & Towne Inc. Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Van Strum & Towne Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,847 shares of the wireless technology company's stock after acquiring an additional 3,500 shares during the quarter. Van Strum & Towne Inc.'s holdings in QUALCOMM were worth $2,588,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in QCOM. State Street Corp boosted its holdings in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the period. Geode Capital Management LLC grew its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Amundi increased its position in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Bank of New York Mellon Corp raised its stake in shares of QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after acquiring an additional 193,236 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock worth $1,421,037,000 after purchasing an additional 498,284 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have commented on the company. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Susquehanna reduced their target price on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Finally, Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Price Performance

QCOM stock traded up $4.64 during trading on Friday, reaching $156.58. The company's stock had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company's fifty day moving average is $164.68 and its 200-day moving average is $164.40. The company has a market capitalization of $173.18 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

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

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,555 shares of company stock valued at $5,094,134. Corporate insiders own 0.08% of the company's stock.

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.