Beta Wealth Group Inc. Has $1.52 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beta Wealth Group Inc. raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,879 shares of the wireless technology company’s stock after buying an additional 601 shares during the quarter. Beta Wealth Group Inc.’s holdings in QUALCOMM were worth $1,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. State Street Corp raised its position in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $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 boosted its holdings 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 last quarter. Van ECK Associates Corp increased its stake in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in QUALCOMM by 1.6% during the 3rd 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on QCOM shares. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $172.23 on Tuesday. The firm’s fifty day moving average price is $163.13 and its two-hundred day moving average price is $165.39. The stock has a market cap of $190.49 billion, a PE ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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, equities analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.