Chase Investment Counsel Corp Invests $416,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Chase Investment Counsel Corp purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,881 shares of the wireless technology company’s stock, valued at approximately $416,000.

Several other institutional investors have also modified their holdings of QCOM. Choreo LLC raised its holdings in QUALCOMM by 48.7% in the 4th quarter. Choreo LLC now owns 8,269 shares of the wireless technology company’s stock valued at $1,196,000 after buying an additional 2,707 shares during the period. Gilbert & Cook Inc. increased its stake in QUALCOMM by 7.3% during the fourth quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock worth $760,000 after purchasing an additional 356 shares during the period. Eagle Wealth Strategies LLC purchased a new stake in QUALCOMM during the fourth quarter worth about $270,000. Marco Investment Management LLC increased its stake in QUALCOMM by 0.4% during the fourth quarter. Marco Investment Management LLC now owns 197,914 shares of the wireless technology company’s stock worth $28,624,000 after purchasing an additional 871 shares during the period. Finally, Silver Oak Securities Incorporated increased its stake in QUALCOMM by 40.0% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,126 shares of the wireless technology company’s stock worth $452,000 after purchasing an additional 893 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on QCOM. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. TD Cowen boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Benchmark started coverage on shares of QUALCOMM in a research note on Tuesday, April 23rd. They set a “buy” rating and a $200.00 price target on the stock. Finally, KeyCorp boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Price Performance

QCOM stock opened at $169.20 on Tuesday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve 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. The business has a 50 day simple moving average of $166.17 and a 200-day simple moving average of $145.34. The company has a market capitalization of $188.83 billion, a P/E ratio of 24.52, a PEG ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

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.