Avantax Advisory Services Inc. Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Avantax Advisory Services Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,802 shares of the wireless technology company's stock after purchasing an additional 7,197 shares during the quarter. Avantax Advisory Services Inc.'s holdings in QUALCOMM were worth $10,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after acquiring an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted 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 during the period. Amundi lifted its position in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. Finally, 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 buying an additional 498,284 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred 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. The trade was a 61.74 % 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 stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,555 shares of company stock valued at $5,094,134. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $0.86 during trading hours on Thursday, hitting $151.94. 5,834,592 shares of the company's stock traded hands, compared to its average volume of 8,293,324. The company has a fifty day simple moving average of $164.70 and a 200-day simple moving average of $164.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market capitalization of $168.05 billion, a price-to-earnings ratio of 16.23, a PEG 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 2.24%. QUALCOMM's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on QCOM shares. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research report on Wednesday, November 20th. Benchmark restated a "buy" rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Finally, 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 objective for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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.