HighPoint Advisor Group LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

HighPoint Advisor Group LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,904 shares of the wireless technology company’s stock after purchasing an additional 5,562 shares during the quarter. HighPoint Advisor Group LLC’s holdings in QUALCOMM were worth $5,823,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QCOM. ARGA Investment Management LP grew its position in shares of QUALCOMM by 18.8% during the 3rd quarter. ARGA Investment Management LP now owns 6,338 shares of the wireless technology company’s stock valued at $1,078,000 after acquiring an additional 1,001 shares during the period. Semmax Financial Advisors Inc. grew its holdings in QUALCOMM by 57.8% in the third quarter. Semmax Financial Advisors Inc. now owns 10,600 shares of the wireless technology company’s stock valued at $1,732,000 after purchasing an additional 3,884 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of QUALCOMM in the third quarter valued at approximately $15,657,000. B&L Asset Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $632,000. Finally, Kestra Investment Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $775,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 3.3 %

QCOM stock opened at $152.72 on Monday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm has a market cap of $168.91 billion, a PE ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The firm’s 50 day moving average price is $164.16 and its 200-day moving average price is $163.82. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted 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 net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.