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

Versant Capital Management Inc boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 56.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,713 shares of the wireless technology company’s stock after purchasing an additional 616 shares during the quarter. Versant Capital Management Inc’s holdings in QUALCOMM were worth $263,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC purchased a new position in QUALCOMM in the 2nd quarter worth about $234,000. Foster & Motley Inc. lifted its position in QUALCOMM by 13.2% during the second quarter. Foster & Motley Inc. now owns 13,426 shares of the wireless technology company’s stock valued at $2,674,000 after purchasing an additional 1,565 shares during the period. SouthState Corp boosted its holdings in QUALCOMM by 13.3% in the second quarter. SouthState Corp now owns 5,185 shares of the wireless technology company’s stock worth $1,033,000 after purchasing an additional 610 shares during the last quarter. Waverton Investment Management Ltd grew its position in QUALCOMM by 6.9% in the 2nd quarter. Waverton Investment Management Ltd now owns 1,354,660 shares of the wireless technology company’s stock worth $269,577,000 after purchasing an additional 87,460 shares during the period. Finally, Sterling Investment Advisors Ltd. purchased a new stake in QUALCOMM during the 2nd quarter valued at $205,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $157.83 on Friday. The company has a market cap of $175.35 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.65 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $134.94 and a 1 year high of $230.63. The stock’s 50 day simple moving average is $160.89 and its two-hundred day simple moving average is $172.78. 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 (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 of the company’s stock, valued at $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 have sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on QCOM shares. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Finally, Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

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.