QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,844 shares of the wireless technology company’s stock after purchasing an additional 628 shares during the period. Lake Street Advisors Group LLC’s holdings in QUALCOMM were worth $1,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its holdings in QUALCOMM by 15.3% in the third quarter. GHP Investment Advisors Inc. now owns 769 shares of the wireless technology company’s stock worth $131,000 after acquiring an additional 102 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of QUALCOMM by 2.9% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,977 shares of the wireless technology company’s stock worth $676,000 after purchasing an additional 112 shares during the period. Autumn Glory Partners LLC lifted its holdings in shares of QUALCOMM by 106.7% in the 3rd quarter. Autumn Glory Partners LLC now owns 2,518 shares of the wireless technology company’s stock worth $428,000 after purchasing an additional 1,300 shares during the last quarter. Old Port Advisors lifted its holdings in shares of QUALCOMM by 13.3% in the 3rd quarter. Old Port Advisors now owns 2,061 shares of the wireless technology company’s stock worth $350,000 after purchasing an additional 242 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its position in QUALCOMM by 16.7% during the 3rd quarter. Pallas Capital Advisors LLC now owns 39,478 shares of the wireless technology company’s stock valued at $6,636,000 after purchasing an additional 5,644 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on QCOM shares. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price 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. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock worth $7,713,734 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

QCOM opened at $161.22 on Wednesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $178.31 billion, a PE ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.25. The business has a fifty day simple moving average of $164.59 and a 200-day simple moving average of $165.79. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

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.