Matrix Asset Advisors Inc. NY Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Matrix Asset Advisors Inc. NY boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 174,254 shares of the wireless technology company’s stock after buying an additional 6,594 shares during the period. QUALCOMM makes up 2.9% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 11th largest position. Matrix Asset Advisors Inc. NY’s holdings in QUALCOMM were worth $26,769,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the third quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter valued at about $27,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $36,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.5 %

QUALCOMM stock opened at $171.18 on Tuesday. The stock has a 50-day moving average of $159.49 and a two-hundred day moving average of $167.27. The stock has a market cap of $190.18 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) 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 company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity

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 shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of 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 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Wednesday, November 20th. Evercore ISI raised their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

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.