IFP Advisors Inc Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

IFP Advisors Inc boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 54.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,885 shares of the wireless technology company’s stock after acquiring an additional 7,332 shares during the period. IFP Advisors Inc’s holdings in QUALCOMM were worth $3,209,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. GHP Investment Advisors Inc. lifted its position in QUALCOMM by 15.3% during the third quarter. GHP Investment Advisors Inc. now owns 769 shares of the wireless technology company’s stock valued at $131,000 after buying an additional 102 shares in the last quarter. Modera Wealth Management LLC raised its stake in shares of QUALCOMM by 1.0% in the 3rd quarter. Modera Wealth Management LLC now owns 17,679 shares of the wireless technology company’s stock valued at $3,006,000 after acquiring an additional 173 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of QUALCOMM by 14.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,262 shares of the wireless technology company’s stock valued at $2,425,000 after acquiring an additional 1,781 shares during the period. FCG Investment Co acquired a new position in shares of QUALCOMM during the 3rd quarter valued at $1,799,000. Finally, Gemmer Asset Management LLC boosted its position in QUALCOMM by 193.7% during the 3rd quarter. Gemmer Asset Management LLC now owns 11,840 shares of the wireless technology company’s stock worth $2,013,000 after purchasing an additional 7,809 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $161.10 on Tuesday. The company has a market cap of $178.18 billion, a PE ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The firm has a 50-day simple moving average of $164.52 and a 200 day simple moving average of $165.81. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its 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 anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on QCOM shares. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.