Delta Asset Management LLC TN Buys 180 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Delta Asset Management LLC TN lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,540 shares of the wireless technology company’s stock after acquiring an additional 180 shares during the period. Delta Asset Management LLC TN’s holdings in QUALCOMM were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Capital Management Associates NY boosted its holdings in QUALCOMM by 3.9% during the fourth quarter. Capital Management Associates NY now owns 5,832 shares of the wireless technology company’s stock worth $843,000 after purchasing an additional 218 shares during the last quarter. Seven Mile Advisory increased its holdings in QUALCOMM by 24.5% during the 4th quarter. Seven Mile Advisory now owns 2,281 shares of the wireless technology company’s stock worth $330,000 after acquiring an additional 449 shares during the period. Nemes Rush Group LLC increased its holdings in QUALCOMM by 2.4% during the 4th quarter. Nemes Rush Group LLC now owns 89,228 shares of the wireless technology company’s stock worth $12,905,000 after acquiring an additional 2,073 shares during the period. Keystone Financial Group increased its holdings in QUALCOMM by 24.6% during the 4th quarter. Keystone Financial Group now owns 6,465 shares of the wireless technology company’s stock worth $935,000 after acquiring an additional 1,277 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of QUALCOMM by 5.1% in the 4th quarter. Franklin Resources Inc. now owns 1,749,394 shares of the wireless technology company’s stock worth $253,015,000 after buying an additional 85,605 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. KeyCorp upped their price objective 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. TD Cowen upped their price objective 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. Rosenblatt Securities increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Wells Fargo & Company increased their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $180.48.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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 in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 689 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total transaction of $110,680.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred 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 directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,958 shares of company stock worth $12,039,527. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $2.08 during trading hours on Wednesday, hitting $202.93. 11,097,416 shares of the stock traded hands, compared to its average volume of 8,639,912. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $204.84. The company has a market cap of $226.47 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The stock has a 50 day moving average price of $173.30 and a 200 day moving average price of $153.70.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.81 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 43.01%.

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.