Hourglass Capital LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Hourglass Capital LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,915 shares of the wireless technology company's stock after acquiring an additional 3,430 shares during the quarter. Hourglass Capital LLC's holdings in QUALCOMM were worth $3,981,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sheaff Brock Investment Advisors LLC boosted its stake in QUALCOMM by 0.4% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 68,175 shares of the wireless technology company's stock valued at $10,473,000 after purchasing an additional 298 shares during the period. Secured Retirement Advisors LLC boosted its stake in QUALCOMM by 68.1% in the 4th quarter. Secured Retirement Advisors LLC now owns 19,849 shares of the wireless technology company's stock valued at $3,049,000 after purchasing an additional 8,042 shares during the period. Strategic Financial Concepts LLC boosted its stake in QUALCOMM by 10.2% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,762 shares of the wireless technology company's stock valued at $578,000 after purchasing an additional 347 shares during the period. Principal Securities Inc. boosted its stake in QUALCOMM by 11.7% in the 4th quarter. Principal Securities Inc. now owns 39,776 shares of the wireless technology company's stock valued at $6,110,000 after purchasing an additional 4,180 shares during the period. Finally, bLong Financial LLC bought a new stake in QUALCOMM in the 4th quarter valued at $244,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,268 shares of company stock worth $7,785,781. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 0.9 %

Shares of QUALCOMM stock traded up $1.58 on Wednesday, hitting $175.22. 6,844,697 shares of the company's stock traded hands, compared to its average volume of 7,682,005. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a fifty day moving average of $163.70 and a two-hundred day moving average of $165.54. The company has a market capitalization of $193.79 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 1.94%. QUALCOMM's payout ratio is currently 36.32%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QCOM shares. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 price target for the company. Finally, Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has a consensus 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.