Concurrent Investment Advisors LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Concurrent Investment Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,363 shares of the wireless technology company’s stock after buying an additional 4,013 shares during the period. Concurrent Investment Advisors LLC’s holdings in QUALCOMM were worth $7,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of QCOM. Nordea Investment Management AB boosted its holdings in shares of 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 purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter valued at $240,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock valued at $7,583,661 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on QCOM. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Evercore ISI reduced their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

QCOM stock opened at $175.22 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a 50 day moving average price of $164.01 and a 200 day moving average price of $165.61. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The stock has a market capitalization of $193.79 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.