QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Raised by Pineridge Advisors LLC

Pineridge Advisors LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1,982.4% during the 4th quarter, HoldingsChannel reports. The firm owned 354 shares of the wireless technology company’s stock after acquiring an additional 337 shares during the period. Pineridge Advisors LLC’s holdings in QUALCOMM were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Martin Capital Advisors LLP grew its position in shares of QUALCOMM by 2.8% during the third quarter. Martin Capital Advisors LLP now owns 3,621 shares of the wireless technology company’s stock worth $616,000 after acquiring an additional 99 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in QUALCOMM by 12.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,098 shares of the wireless technology company’s stock valued at $1,377,000 after buying an additional 895 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of QUALCOMM by 3.2% in the third quarter. Procyon Advisors LLC now owns 37,152 shares of the wireless technology company’s stock valued at $6,318,000 after buying an additional 1,160 shares during the period. ORG Wealth Partners LLC acquired a new position in QUALCOMM in the third quarter worth approximately $741,000. Finally, Empirical Asset Management LLC lifted its stake in QUALCOMM by 0.8% during the third quarter. Empirical Asset Management LLC now owns 14,515 shares of the wireless technology company’s stock valued at $2,468,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 2.0 %

QCOM stock opened at $171.36 on Tuesday. QUALCOMM Incorporated has a 1-year low of $148.41 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $162.15 and its 200-day moving average is $165.55. The firm has a market cap of $189.52 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Melius Research 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 began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade 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 at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock worth $7,276,381 in the last three months. Insiders own 0.08% of the company’s stock.

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.