Relyea Zuckerberg Hanson LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Relyea Zuckerberg Hanson LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,077 shares of the wireless technology company’s stock after acquiring an additional 350 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in QUALCOMM were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Bradley Foster & Sargent Inc. CT raised its position in shares of QUALCOMM by 3.9% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 37,063 shares of the wireless technology company’s stock worth $7,382,000 after purchasing an additional 1,384 shares during the last quarter. Sienna Gestion acquired a new position in shares of QUALCOMM in the second quarter worth $8,387,000. Garner Asset Management Corp raised its holdings in shares of QUALCOMM by 8.8% in the second quarter. Garner Asset Management Corp now owns 14,305 shares of the wireless technology company’s stock worth $2,849,000 after acquiring an additional 1,151 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at $1,992,000. Finally, Concorde Asset Management LLC acquired a new stake in shares of QUALCOMM during the second quarter valued at $202,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Up 2.0 %

Shares of QCOM traded up $3.21 during mid-day trading on Friday, reaching $164.64. 1,217,130 shares of the stock traded hands, compared to its average volume of 6,536,742. The stock has a fifty day simple moving average of $159.21 and a 200 day simple moving average of $169.34. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $182.91 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, 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 transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. 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.