Concurrent Investment Advisors LLC Buys 4,013 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Concurrent Investment Advisors LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,363 shares of the wireless technology company’s stock after purchasing an additional 4,013 shares during the period. Concurrent Investment Advisors LLC’s holdings in QUALCOMM were worth $7,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $2,058,000. Burney Co. lifted its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $240,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.9 %

NASDAQ:QCOM opened at $175.22 on Thursday. 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 $193.79 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.01 and a beta of 1.25. The firm has a fifty day simple moving average of $164.01 and a two-hundred day simple moving average of $165.61. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock worth $7,583,661 over the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.