Hunter Associates Investment Management LLC Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Hunter Associates Investment Management LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,512 shares of the wireless technology company’s stock after purchasing an additional 325 shares during the period. Hunter Associates Investment Management LLC’s holdings in QUALCOMM were worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC purchased a new stake in QUALCOMM in the first quarter worth $26,000. Legacy Financial Group LLC purchased a new stake in QUALCOMM in the third quarter worth $29,000. Pacific Center for Financial Services purchased a new stake in shares of QUALCOMM in the first quarter worth $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of QUALCOMM in the first quarter worth $32,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $3.81 during trading hours on Friday, reaching $157.63. 10,292,182 shares of the company traded hands, compared to its average volume of 6,247,785. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $175.92 billion, a P/E ratio of 22.84, a P/E/G ratio of 2.20 and a beta of 1.41. The firm has a 50-day moving average price of $164.87 and a 200 day moving average price of $142.66.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. QUALCOMM’s payout ratio is currently 46.38%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,260 shares of company stock valued at $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.