Marco Investment Management LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Marco Investment Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,914 shares of the wireless technology company’s stock after acquiring an additional 871 shares during the period. QUALCOMM accounts for 2.9% of Marco Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. Marco Investment Management LLC’s holdings in QUALCOMM were worth $28,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares in the last quarter. Morgan Stanley boosted its holdings in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of QUALCOMM by 3.5% during the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after buying an additional 415,398 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of QUALCOMM by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock worth $1,226,109,000 after purchasing an additional 90,163 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $2.36 during trading hours on Friday, hitting $165.66. 7,141,339 shares of the company’s stock traded hands, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The stock has a market capitalization of $184.88 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.27 and a beta of 1.41. The company has a fifty day simple moving average of $165.84 and a 200-day simple moving average of $144.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is presently 49.28%.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. KeyCorp increased their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Benchmark started coverage on QUALCOMM in a report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 target price on the stock. Mizuho increased their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, TD Cowen increased their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.86.

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.