Everence Capital Management Inc. Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Everence Capital Management Inc. grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 51.0% during the 4th quarter, Holdings Channel reports. The fund owned 37,330 shares of the wireless technology company’s stock after buying an additional 12,610 shares during the quarter. Everence Capital Management Inc.’s holdings in QUALCOMM were worth $5,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lantz Financial LLC purchased a new stake in shares of QUALCOMM during the 2nd quarter worth $234,000. Founders Financial Securities LLC boosted its holdings in QUALCOMM by 19.5% during the second quarter. Founders Financial Securities LLC now owns 3,763 shares of the wireless technology company’s stock worth $750,000 after buying an additional 615 shares in the last quarter. First National Trust Co increased its holdings in QUALCOMM by 1.4% in the second quarter. First National Trust Co now owns 11,772 shares of the wireless technology company’s stock valued at $2,345,000 after buying an additional 167 shares in the last quarter. Cora Capital Advisors LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $233,000. Finally, FineMark National Bank & Trust boosted its stake in shares of QUALCOMM by 0.9% during the 2nd quarter. FineMark National Bank & Trust now owns 85,497 shares of the wireless technology company’s stock worth $17,029,000 after acquiring an additional 779 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.4 %

Shares of NASDAQ:QCOM traded up $2.09 during trading on Friday, hitting $155.73. The company’s stock had a trading volume of 1,267,690 shares, compared to its average volume of 3,080,900. The company has a market capitalization of $173.02 billion, a PE ratio of 17.32, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $134.94 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock’s 50-day moving average price is $160.89 and its two-hundred day moving average price is $172.78.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analyst Ratings Changes

QCOM has been the subject of several research reports. Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Evercore ISI increased their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.