Gamco Investors INC. ET AL Has $1.96 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Gamco Investors INC. ET AL lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,600 shares of the wireless technology company’s stock after selling 1,273 shares during the quarter. Gamco Investors INC. ET AL’s holdings in QUALCOMM were worth $1,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Peoples Bank OH bought a new position in shares of QUALCOMM during the 4th quarter valued at about $219,000. Bank Hapoalim BM boosted its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC increased its position in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Alexander Randolph Advisory Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth $305,000. Finally, City Holding Co. lifted its position in QUALCOMM by 3.5% in the 1st quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 199 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho increased their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. UBS Group increased their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Bank of America boosted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Susquehanna raised their price target on shares of QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Hsbc Global Res lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.63.

QUALCOMM Stock Performance

QCOM stock traded up $4.66 during mid-day trading on Friday, hitting $180.05. 6,567,842 shares of the company were exchanged, compared to its average volume of 8,034,185. The stock has a market capitalization of $200.94 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 2.13 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The business has a 50 day simple moving average of $204.19 and a 200-day simple moving average of $177.00. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the completion of the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock worth $8,552,835. Corporate 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.