Empirical Asset Management LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 27.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,470 shares of the wireless technology company’s stock after buying an additional 3,955 shares during the quarter. Empirical Asset Management LLC’s holdings in QUALCOMM were worth $2,837,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised 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. FNY Investment Advisers LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. boosted its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC raised its position in QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.
QUALCOMM Trading Up 1.9 %
QCOM opened at $164.56 on Friday. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company’s 50 day simple moving average is $158.98 and its two-hundred day simple moving average is $169.28. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. 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 Announces Dividend
The company 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 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.
Analyst Ratings Changes
Several research firms have commented on QCOM. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.
Get Our Latest Stock Report on QUALCOMM
Insider Buying and Selling
In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, 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. Over the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.
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.
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