DAVENPORT & Co LLC Has $11.17 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

DAVENPORT & Co LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the fourth quarter, HoldingsChannel reports. The fund owned 72,708 shares of the wireless technology company’s stock after acquiring an additional 3,026 shares during the period. DAVENPORT & Co LLC’s holdings in QUALCOMM were worth $11,170,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the 4th quarter valued at about $27,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new position in QUALCOMM during the third quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock worth $4,000,870 over the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.6 %

NASDAQ:QCOM opened at $172.93 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The firm’s 50 day simple moving average is $160.76 and its 200 day simple moving average is $166.37. The company has a market cap of $192.13 billion, a PE ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s payout ratio is 37.82%.

Analyst Ratings Changes

Several brokerages have issued reports on QCOM. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.57.

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.