Great Lakes Advisors LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Great Lakes Advisors LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,506 shares of the wireless technology company’s stock after purchasing an additional 179 shares during the period. Great Lakes Advisors LLC’s holdings in QUALCOMM were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. TBH Global Asset Management LLC grew its position in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 63 shares during the period. Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares during the period. CFS Investment Advisory Services LLC grew its position in QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after acquiring an additional 65 shares during the period. Pettyjohn Wood & White Inc. grew its position in QUALCOMM by 2.9% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company’s stock worth $371,000 after acquiring an additional 67 shares during the period. Finally, First City Capital Management Inc. grew its position in QUALCOMM by 1.3% in the third quarter. First City Capital Management Inc. now owns 5,507 shares of the wireless technology company’s stock worth $936,000 after acquiring an additional 68 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $156.58 on Monday. The stock’s 50-day moving average is $164.68 and its two-hundred day moving average is $164.40. The firm has a market cap of $173.18 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

Several research analysts recently weighed in on QCOM shares. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by insiders.

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.