Orion Portfolio Solutions LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Portfolio Solutions LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 90.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,641 shares of the wireless technology company's stock after buying an additional 61,675 shares during the quarter. Orion Portfolio Solutions LLC's holdings in QUALCOMM were worth $19,915,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after acquiring an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth about $2,058,000. Burney Co. raised its position in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $240,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 1.5 %

Shares of NASDAQ QCOM traded down $2.31 during trading hours on Monday, hitting $150.42. The company's stock had a trading volume of 2,132,488 shares, compared to its average volume of 8,580,141. QUALCOMM Incorporated has a 12 month low of $147.99 and a 12 month high of $230.63. The stock has a market cap of $166.36 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business has a 50-day simple moving average of $164.16 and a 200-day simple moving average of $163.82.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.26%. QUALCOMM's dividend payout ratio is 36.32%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QCOM. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Evercore ISI reduced their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of QUALCOMM 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. 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 firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company's stock.

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.