Portfolio Design Labs LLC Has $1.82 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Portfolio Design Labs LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,855 shares of the wireless technology company’s stock after buying an additional 2,553 shares during the period. Portfolio Design Labs LLC’s holdings in QUALCOMM were worth $1,821,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in QCOM. Fiduciary Alliance LLC increased its stake in shares of QUALCOMM by 34.9% during the third quarter. Fiduciary Alliance LLC now owns 4,216 shares of the wireless technology company’s stock worth $717,000 after purchasing an additional 1,091 shares during the period. Harrington Investments INC increased its stake in shares of QUALCOMM by 0.6% during the third quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock worth $3,850,000 after purchasing an additional 130 shares during the period. CX Institutional increased its stake in shares of QUALCOMM by 334.2% during the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after purchasing an additional 19,212 shares during the period. Wesbanco Bank Inc. increased its stake in shares of QUALCOMM by 0.7% during the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after purchasing an additional 88 shares during the period. Finally, Creative Planning increased its stake in shares of QUALCOMM by 0.5% during the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after purchasing an additional 2,086 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on QCOM shares. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. 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 note on Thursday, November 7th. Citigroup lowered their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Susquehanna lowered their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. 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’s stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated 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 directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock valued at $7,276,381 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 0.4 %

NASDAQ QCOM opened at $171.99 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $148.41 and a twelve month high of $230.63. The company has a market cap of $190.22 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The business’s fifty day moving average is $162.31 and its 200 day moving average is $165.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.