Cornell Pochily Investment Advisors Inc. Raises Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornell Pochily Investment Advisors Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 4th quarter, HoldingsChannel reports. The fund owned 11,016 shares of the wireless technology company’s stock after purchasing an additional 89 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in QUALCOMM were worth $1,692,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Susquehanna Fundamental Investments LLC bought a new stake in QUALCOMM during the 2nd quarter valued at $896,000. Kathmere Capital Management LLC bought a new position in shares of QUALCOMM in the second quarter worth $295,000. Ascent Group LLC grew its position in shares of QUALCOMM by 13.4% in the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after purchasing an additional 335 shares in the last quarter. Full Sail Capital LLC raised its stake in shares of QUALCOMM by 24.1% during the 2nd quarter. Full Sail Capital LLC now owns 1,731 shares of the wireless technology company’s stock valued at $345,000 after purchasing an additional 336 shares during the period. Finally, Aviso Wealth Management lifted its holdings in QUALCOMM by 844.7% during the 2nd quarter. Aviso Wealth Management now owns 1,247 shares of the wireless technology company’s stock worth $248,000 after purchasing an additional 1,115 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QCOM opened at $172.11 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock’s 50 day simple moving average is $159.49 and its 200 day simple moving average is $167.27. The firm has a market cap of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. As a group, analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on QCOM shares. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

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.