QUALCOMM Incorporated (NASDAQ:QCOM) Stake Raised by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,304,594 shares of the wireless technology company’s stock after acquiring an additional 5,588 shares during the quarter. HighTower Advisors LLC owned about 0.12% of QUALCOMM worth $200,412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FDx Advisors Inc. boosted its stake in QUALCOMM by 80.6% in the 3rd quarter. FDx Advisors Inc. now owns 2,016 shares of the wireless technology company’s stock worth $343,000 after purchasing an additional 900 shares during the period. Keystone Financial Services boosted its position in shares of QUALCOMM by 15.2% in the third quarter. Keystone Financial Services now owns 2,153 shares of the wireless technology company’s stock worth $366,000 after buying an additional 284 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of QUALCOMM by 6.2% during the third quarter. Apollon Wealth Management LLC now owns 30,409 shares of the wireless technology company’s stock valued at $5,171,000 after buying an additional 1,772 shares in the last quarter. Entropy Technologies LP acquired a new position in QUALCOMM during the third quarter valued at $5,638,000. Finally, Waverton Investment Management Ltd lifted its stake in QUALCOMM by 6.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,446,533 shares of the wireless technology company’s stock worth $245,961,000 after acquiring an additional 91,873 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, 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. Over the last three months, insiders sold 28,955 shares of company stock valued at $4,847,350. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Down 1.2 %

QCOM opened at $153.10 on Wednesday. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $169.33 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a 50 day moving average of $164.76 and a 200-day moving average of $164.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.22%. QUALCOMM’s dividend payout ratio is 36.32%.

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.