HighPoint Advisor Group LLC Has $5.82 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

HighPoint Advisor Group LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,904 shares of the wireless technology company's stock after purchasing an additional 5,562 shares during the quarter. HighPoint Advisor Group LLC's holdings in QUALCOMM were worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM during the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

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QUALCOMM Stock Down 9.8 %

Shares of NASDAQ:QCOM traded down $15.16 during mid-day trading on Thursday, reaching $138.92. 6,846,412 shares of the stock were exchanged, compared to its average volume of 8,587,435. The stock's 50 day simple moving average is $163.33 and its 200-day simple moving average is $163.57. QUALCOMM Incorporated has a one year low of $138.66 and a one year high of $230.63. The company has a market cap of $153.65 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.45%. QUALCOMM's dividend payout ratio is 36.32%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on QCOM shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.