Oppenheimer & Co. Inc. Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oppenheimer & Co. Inc. raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 111,971 shares of the wireless technology company’s stock after buying an additional 315 shares during the period. Oppenheimer & Co. Inc.’s holdings in QUALCOMM were worth $17,201,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley decreased their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. UBS Group increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Susquehanna decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 46,708 shares of company stock valued at $7,713,734. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.5 %

Shares of QCOM opened at $162.10 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 firm has a 50 day simple moving average of $164.77 and a 200-day simple moving average of $165.76. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a market cap of $179.28 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.10%. QUALCOMM’s payout ratio 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.