LSV Asset Management Has $371.13 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

LSV Asset Management boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,566,091 shares of the wireless technology company’s stock after buying an additional 614,490 shares during the quarter. QUALCOMM comprises approximately 0.8% of LSV Asset Management’s investment portfolio, making the stock its 25th largest holding. LSV Asset Management’s holdings in QUALCOMM were worth $371,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Legacy Financial Group LLC bought a new position in QUALCOMM during the third quarter worth $29,000. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the fourth quarter valued at $32,000. Fortitude Family Office LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $35,000. Finally, Cranbrook Wealth Management LLC lifted its stake in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.46 on Friday, reaching $179.64. 10,043,912 shares of the company traded hands, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88. The firm has a market capitalization of $200.48 billion, a PE ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33. The company has a 50 day moving average of $167.69 and a 200 day moving average of $146.59. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $183.19.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company 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 is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QCOM. Wolfe Research increased their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America increased their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. Citigroup raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

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.