HB Wealth Management LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

HB Wealth Management LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,426 shares of the wireless technology company's stock after purchasing an additional 4,626 shares during the quarter. HB Wealth Management LLC's holdings in QUALCOMM were worth $4,828,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QCOM. Pacer Advisors Inc. lifted its position in QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company's stock worth $499,320,000 after purchasing an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 1,989,725 shares in the last quarter. Van ECK Associates Corp grew its stake in QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after buying an additional 1,380,500 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $3.13 during trading hours on Friday, reaching $164.56. The company had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock has a fifty day moving average of $158.85 and a 200-day moving average of $168.82.

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

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM's dividend payout ratio is currently 37.82%.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the company'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 transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company's stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Mizuho decreased 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. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Finally, 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

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.