CX Institutional Has $5.42 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

CX Institutional raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,259 shares of the wireless technology company’s stock after purchasing an additional 10,299 shares during the period. CX Institutional’s holdings in QUALCOMM were worth $5,417,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of QCOM. Nordea Investment Management AB lifted its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after acquiring an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $2,058,000. Burney Co. boosted its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Wedge Capital Management L L P NC grew its holdings in QUALCOMM by 17.1% in the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after buying an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its position in QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % 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, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on 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 transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $173.22 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The business’s 50 day simple moving average is $159.05 and its 200 day simple moving average is $168.04. The stock has a market capitalization of $192.45 billion, a PE ratio of 19.26, a PEG ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 37.82%.

QUALCOMM Company 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.