J. L. Bainbridge & Co. Inc. Has $32.76 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

J. L. Bainbridge & Co. Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the fourth quarter, Holdings Channel reports. The fund owned 213,240 shares of the wireless technology company’s stock after selling 129 shares during the period. QUALCOMM accounts for 3.0% of J. L. Bainbridge & Co. Inc.’s investment portfolio, making the stock its 13th biggest holding. J. L. Bainbridge & Co. Inc.’s holdings in QUALCOMM were worth $32,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. State Street Corp increased its holdings in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the period. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 7.9% during the 3rd 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 during the period. Amundi increased its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Bank of New York Mellon Corp increased its stake in QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after acquiring an additional 193,236 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QUALCOMM by 6.3% in 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 valued at $1,421,037,000 after acquiring an additional 498,284 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Piper Sandler cut their price objective 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, Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One investment 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. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $156.58 on Friday. The stock has a market cap of $173.18 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a fifty day moving average price of $164.68 and a two-hundred day moving average price of $164.52. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.