HighPoint Advisor Group LLC Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

HighPoint Advisor Group LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,904 shares of the wireless technology company’s stock after buying an additional 5,562 shares during the quarter. HighPoint Advisor Group LLC’s holdings in QUALCOMM were worth $5,823,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in QUALCOMM by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 7,542,337 shares of the wireless technology company’s stock valued at $1,158,654,000 after acquiring an additional 709,644 shares in the last quarter. Seven Mile Advisory increased its position in shares of QUALCOMM by 13.8% in the 4th quarter. Seven Mile Advisory now owns 2,801 shares of the wireless technology company’s stock valued at $430,000 after purchasing an additional 339 shares during the last quarter. Colrain Capital LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $2,996,000. Summit Financial LLC lifted its position in shares of QUALCOMM by 190.5% during the 4th quarter. Summit Financial LLC now owns 15,606 shares of the wireless technology company’s stock worth $2,397,000 after purchasing an additional 10,234 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in shares of QUALCOMM by 13.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 139,243 shares of the wireless technology company’s stock worth $21,391,000 after purchasing an additional 16,940 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $152.72 on Monday. The company has a market capitalization of $168.91 billion, a PE ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a 50-day simple moving average of $164.16 and a 200-day simple moving average of $163.82. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

A number of analysts have weighed in on QCOM shares. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the 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 directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by corporate insiders.

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.