World Investment Advisors Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

World Investment Advisors lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,528 shares of the wireless technology company's stock after acquiring an additional 6,362 shares during the quarter. World Investment Advisors' holdings in QUALCOMM were worth $7,916,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Westpac Banking Corp lifted its stake in shares of QUALCOMM by 15.9% during the 4th quarter. Westpac Banking Corp now owns 71,159 shares of the wireless technology company's stock worth $10,931,000 after acquiring an additional 9,760 shares during the last quarter. SevenBridge Financial Group LLC lifted its position in shares of QUALCOMM by 14.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 12,785 shares of the wireless technology company's stock worth $1,964,000 after purchasing an additional 1,652 shares during the last quarter. OneAscent Financial Services LLC boosted its stake in shares of QUALCOMM by 80.6% during the fourth quarter. OneAscent Financial Services LLC now owns 4,477 shares of the wireless technology company's stock valued at $688,000 after purchasing an additional 1,998 shares during the period. Ardmore Road Asset Management LP grew its holdings in shares of QUALCOMM by 100.0% in the fourth quarter. Ardmore Road Asset Management LP now owns 100,000 shares of the wireless technology company's stock worth $15,362,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Huntington National Bank increased its stake in QUALCOMM by 20.5% in the 4th quarter. Huntington National Bank now owns 289,305 shares of the wireless technology company's stock worth $44,443,000 after buying an additional 49,231 shares during the period. Institutional investors own 74.35% of the company's stock.

Remove Ads

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $14.66 during trading hours on Thursday, hitting $139.42. The company's stock had a trading volume of 16,453,352 shares, compared to its average volume of 8,631,237. The stock has a market cap of $154.20 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $138.58 and a 12-month high of $230.63. The company has a 50 day moving average of $162.63 and a 200 day moving average of $163.40. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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 net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.44%. QUALCOMM's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QCOM shares. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Finally, Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. One investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.