QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.2% during the fourth quarter, Holdings Channel reports. The firm owned 18,470 shares of the wireless technology company’s stock after buying an additional 3,955 shares during the quarter. Empirical Asset Management LLC’s holdings in QUALCOMM were worth $2,837,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Concorde Asset Management LLC purchased a new position in shares of QUALCOMM in the second quarter valued at approximately $202,000. Inspire Investing LLC lifted its holdings in QUALCOMM by 89.1% during the 2nd quarter. Inspire Investing LLC now owns 4,956 shares of the wireless technology company’s stock worth $987,000 after buying an additional 2,335 shares in the last quarter. ProVise Management Group LLC boosted its position in QUALCOMM by 12.4% in the 2nd quarter. ProVise Management Group LLC now owns 2,148 shares of the wireless technology company’s stock valued at $428,000 after buying an additional 237 shares during the period. Ieq Capital LLC grew its stake in shares of QUALCOMM by 19.0% in the second quarter. Ieq Capital LLC now owns 55,797 shares of the wireless technology company’s stock worth $11,114,000 after acquiring an additional 8,906 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its position in shares of QUALCOMM by 1.4% during the second quarter. Benjamin Edwards Inc. now owns 27,666 shares of the wireless technology company’s stock worth $5,511,000 after acquiring an additional 384 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QCOM. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna decreased 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. Finally, Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.57.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred 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 in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ:QCOM opened at $164.56 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market cap of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The firm has a fifty day moving average price of $158.98 and a 200 day moving average price of $169.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating 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 firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

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

QUALCOMM Company 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.