Leavell Investment Management Inc. Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Leavell Investment Management Inc. boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,086 shares of the wireless technology company’s stock after acquiring an additional 857 shares during the period. Leavell Investment Management Inc.’s holdings in QUALCOMM were worth $3,700,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several recent 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 target on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $170.29 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $188.34 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The firm has a 50 day moving average of $162.50 and a 200 day moving average of $165.47. QUALCOMM Incorporated has a 52 week low of $148.41 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated 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 owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock valued at $7,785,781 in the last 90 days. 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.