Concurrent Investment Advisors LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Concurrent Investment Advisors LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,363 shares of the wireless technology company's stock after buying an additional 4,013 shares during the period. Concurrent Investment Advisors LLC's holdings in QUALCOMM were worth $7,122,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Paulson Wealth Management Inc. raised its stake in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company's stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares during the period. Blossom Wealth Management raised its position in shares of QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company's stock valued at $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC lifted its holdings in shares of QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company's stock worth $548,000 after acquiring an additional 65 shares during the period. Finally, CFS Investment Advisory Services LLC boosted its position in shares of QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research note on Thursday, November 7th. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Trading Down 4.8 %

Shares of QCOM stock traded down $8.36 during trading hours on Friday, hitting $165.34. 12,355,394 shares of the company were exchanged, compared to its average volume of 7,647,333. 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 fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a 50 day simple moving average of $164.32 and a two-hundred day simple moving average of $165.67. The firm has a market cap of $182.87 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.03 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.06%. QUALCOMM's payout ratio is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,964 shares of company stock valued at $7,583,661. Company insiders own 0.08% of the company's stock.

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.