Tennessee Valley Asset Management Partners Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Tennessee Valley Asset Management Partners raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,551 shares of the wireless technology company’s stock after purchasing an additional 208 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in QUALCOMM were worth $1,621,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QCOM. Nordea Investment Management AB boosted its position in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. lifted its position in QUALCOMM by 665.6% during the fourth 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 boosted its holdings in QUALCOMM by 17.1% in the third 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 purchasing an additional 51,879 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew 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 purchasing an additional 18,315 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.3 %

Shares of NASDAQ:QCOM opened at $172.11 on Monday. The business has a 50-day moving average price of $159.49 and a 200 day moving average price of $167.56. The company has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QCOM. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $206.57.

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.