Cornerstone Advisors LLC Has $3.81 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Advisors LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,800 shares of the wireless technology company’s stock after selling 5,900 shares during the quarter. Cornerstone Advisors LLC’s holdings in QUALCOMM were worth $3,810,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of QCOM. Paulson Wealth Management Inc. grew its stake in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the last quarter. TBH Global Asset Management LLC grew its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. Delta Financial Advisors LLC grew its stake in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares during the last quarter. Toth Financial Advisory Corp grew its stake in QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its stake in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,955 shares of company stock valued at $4,847,350 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on QCOM shares. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. 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 given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 3.9 %

Shares of QCOM stock opened at $154.98 on Tuesday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a market capitalization of $171.41 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.01 and a beta of 1.28. The firm has a 50-day moving average price of $164.77 and a 200 day moving average price of $164.93. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.