Procyon Advisors LLC Has $6.21 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Procyon Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,433 shares of the wireless technology company's stock after buying an additional 3,281 shares during the quarter. Procyon Advisors LLC's holdings in QUALCOMM were worth $6,211,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. State Street Corp grew its position in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock valued at $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC grew its position in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Legal & General Group Plc grew its position in QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company's stock valued at $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in QUALCOMM by 6.3% in 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 valued at $1,421,037,000 after acquiring an additional 498,284 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in QUALCOMM by 30.2% in 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. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock traded up $3.13 during trading on Friday, hitting $164.56. The company had a trading volume of 7,939,416 shares, compared to its average volume of 7,156,975. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The business has a 50 day moving average of $158.98 and a 200 day moving average of $169.28. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM's payout ratio is 37.82%.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Benchmark reissued a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, November 20th. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. Finally, KeyCorp lowered shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $206.57.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by insiders.

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.