Sovran Advisors LLC Takes $457,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sovran Advisors LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,867 shares of the wireless technology company’s stock, valued at approximately $457,000.

Several other hedge funds and other institutional investors have also bought and sold shares of QCOM. State Street Corp grew its position in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC raised its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after purchasing an additional 498,284 shares during the period. Van ECK Associates Corp lifted its position in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the period. Finally, Franklin Resources Inc. grew its stake in QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after buying an additional 110,828 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,268 shares of company stock worth $7,785,781 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on QCOM shares. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $170.29 on Thursday. QUALCOMM Incorporated has a twelve month low of $148.41 and a twelve month high of $230.63. The firm has a fifty day simple moving average of $162.50 and a 200 day simple moving average of $165.47. The company has a market capitalization of $188.34 billion, a PE ratio of 18.19, a P/E/G ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.