Providence Capital Advisors LLC Invests $5.29 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Providence Capital Advisors LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel reports. The fund acquired 34,400 shares of the wireless technology company’s stock, valued at approximately $5,285,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi grew its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at $527,053,000. Geode Capital Management LLC raised its position in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction 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 stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of QCOM stock opened at $157.97 on Friday. The stock’s 50 day simple moving average is $164.40 and its 200 day simple moving average is $163.88. 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 Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a market capitalization of $174.71 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.