QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,266 shares of the wireless technology company's stock after purchasing an additional 3,595 shares during the period. Pinnacle Wealth Management Advisory Group LLC's holdings in QUALCOMM were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. State Street Corp increased its stake in QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC grew its stake in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock worth $1,421,037,000 after acquiring an additional 498,284 shares during the period. Van ECK Associates Corp raised its stake in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company's stock valued at $1,213,023,000 after acquiring an additional 110,828 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock valued at $7,785,781 over the last ninety days. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on QCOM shares. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Sanford C. Bernstein increased their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $1.58 on Wednesday, hitting $175.22. 6,844,697 shares of the company were exchanged, compared to its average volume of 7,682,005. The firm has a market capitalization of $193.79 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock's 50 day moving average price is $164.01 and its 200 day moving average price is $165.61. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. QUALCOMM's payout ratio is 36.32%.

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.