Janney Montgomery Scott LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Janney Montgomery Scott LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.7% during the 4th quarter, Holdings Channel reports. The fund owned 644,711 shares of the wireless technology company’s stock after acquiring an additional 56,822 shares during the period. Janney Montgomery Scott LLC’s holdings in QUALCOMM were worth $99,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Wescott Financial Advisory Group LLC purchased a new position in QUALCOMM during the second quarter worth about $449,000. Fred Alger Management LLC lifted its position in QUALCOMM by 5.8% during the second quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after buying an additional 3,078 shares during the period. Toronto Dominion Bank lifted its position in QUALCOMM by 6.2% during the second quarter. Toronto Dominion Bank now owns 767,394 shares of the wireless technology company’s stock worth $152,850,000 after buying an additional 44,618 shares during the period. Kingfisher Capital LLC lifted its position in QUALCOMM by 4.7% during the second quarter. Kingfisher Capital LLC now owns 1,820 shares of the wireless technology company’s stock worth $362,000 after buying an additional 81 shares during the period. Finally, Alpha DNA Investment Management LLC lifted its position in QUALCOMM by 32.8% during the second quarter. Alpha DNA Investment Management LLC now owns 6,045 shares of the wireless technology company’s stock worth $1,204,000 after buying an additional 1,492 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the business’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 transaction, the insider now owns 33,383 shares of the company’s stock, valued at $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 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 1.8 %

QCOM stock opened at $170.24 on Thursday. The firm has a fifty day moving average price of $158.86 and a two-hundred day moving average price of $168.02. 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 Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The firm has a market cap of $189.14 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.79 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Research analysts predict that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

QUALCOMM 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.