Exchange Traded Concepts LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Exchange Traded Concepts LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,158 shares of the wireless technology company’s stock after acquiring an additional 17,056 shares during the period. QUALCOMM accounts for approximately 0.9% of Exchange Traded Concepts LLC’s investment portfolio, making the stock its 16th biggest position. Exchange Traded Concepts LLC’s holdings in QUALCOMM were worth $46,725,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of QCOM. Fred Alger Management LLC grew its position in QUALCOMM by 5.8% in the second quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after acquiring an additional 3,078 shares during the period. APG Asset Management US Inc. grew its stake in shares of QUALCOMM by 14.1% in the second quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company’s stock worth $78,035,000 after acquiring an additional 48,179 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in shares of QUALCOMM in the second quarter valued at $9,326,000. Drucker Wealth 3.0 LLC purchased a new position in QUALCOMM in the second quarter valued at $1,431,000. Finally, Delta Investment Management LLC grew its stake in QUALCOMM by 7.2% during the 2nd quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company’s stock worth $565,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on QCOM shares. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have issued 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated 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 directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the 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 sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $173.13 on Friday. The stock has a market cap of $192.34 billion, a P/E ratio of 19.26, a P/E/G ratio of 2.84 and a beta of 1.25. The firm’s 50-day simple moving average is $159.05 and its 200 day simple moving average is $168.04. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week 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.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.