Adero Partners LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Adero Partners LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,898 shares of the wireless technology company’s stock after purchasing an additional 87 shares during the period. Adero Partners LLC’s holdings in QUALCOMM were worth $292,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter worth about $27,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One equities research 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 has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,981 shares of company stock valued at $4,000,870 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.6 %

Shares of QUALCOMM stock opened at $175.86 on Thursday. QUALCOMM Incorporated has a 1 year low of $142.43 and a 1 year high of $230.63. The company has a market cap of $195.38 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.87 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $161.31 and a 200 day moving average price of $165.95.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, analysts expect that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.93%. QUALCOMM’s dividend payout ratio (DPR) is currently 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.