Madison Investment Advisors LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Madison Investment Advisors LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 89,805 shares of the wireless technology company's stock, valued at approximately $13,796,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 30,555 shares of company stock valued at $5,094,134 over the last 90 days. 0.08% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective 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 note on Friday, January 17th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler cut their target price 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 analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $4.64 during trading on Friday, hitting $156.58. The stock had a trading volume of 5,306,194 shares, compared to its average volume of 8,248,235. The firm has a market cap of $173.18 billion, a price-to-earnings ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The business's 50-day moving average is $164.68 and its 200 day moving average is $164.46. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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 return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM's dividend payout ratio is presently 36.32%.

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.