Smead Capital Management Inc. Purchases 5,230 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Smead Capital Management Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 747,576 shares of the wireless technology company’s stock after purchasing an additional 5,230 shares during the period. QUALCOMM comprises 1.9% of Smead Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Smead Capital Management Inc. owned approximately 0.07% of QUALCOMM worth $108,122,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. State Street Corp boosted its stake in QUALCOMM by 2.5% in the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock valued at $6,186,652,000 after acquiring an additional 1,183,406 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares during the last quarter. Morgan Stanley boosted its stake in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in QUALCOMM by 7.0% in the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after acquiring an additional 1,178,546 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QCOM shares. Evercore ISI started coverage on shares of QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 target price on the stock. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $3.19 during trading on Thursday, reaching $161.13. The company had a trading volume of 4,133,430 shares, compared to its average volume of 8,545,844. The company has a fifty day moving average of $164.47 and a two-hundred day moving average of $142.20. The stock has a market capitalization of $179.82 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,360 shares of company stock valued at $7,184,678. Insiders own 0.08% of the company’s stock.

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.