Destination Wealth Management Has $26.63 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Destination Wealth Management increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,373 shares of the wireless technology company’s stock after acquiring an additional 1,239 shares during the period. Destination Wealth Management’s holdings in QUALCOMM were worth $26,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. increased its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $156.04 on Friday. The firm has a market cap of $172.58 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The stock’s 50 day simple moving average is $164.68 and its 200 day simple moving average is $165.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.18%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.