Proficio Capital Partners LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Proficio Capital Partners LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 22,954.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 645,073 shares of the wireless technology company’s stock after acquiring an additional 642,275 shares during the quarter. Proficio Capital Partners LLC’s holdings in QUALCOMM were worth $99,096,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in QUALCOMM by 0.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 111,971 shares of the wireless technology company’s stock worth $17,201,000 after purchasing an additional 315 shares in the last quarter. Kovack Advisors Inc. boosted its stake in QUALCOMM by 2.8% in the 4th quarter. Kovack Advisors Inc. now owns 12,847 shares of the wireless technology company’s stock worth $1,974,000 after purchasing an additional 352 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in QUALCOMM by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 441,600 shares of the wireless technology company’s stock worth $67,839,000 after purchasing an additional 9,200 shares in the last quarter. Apriem Advisors boosted its stake in QUALCOMM by 1.8% in the 4th quarter. Apriem Advisors now owns 12,504 shares of the wireless technology company’s stock worth $1,921,000 after purchasing an additional 220 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC boosted its stake in QUALCOMM by 5.6% in the 4th quarter. Lineweaver Wealth Advisors LLC now owns 4,833 shares of the wireless technology company’s stock worth $743,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 over the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QCOM shares. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

NASDAQ QCOM opened at $154.44 on Friday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a market cap of $170.81 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.01 and a beta of 1.25. The company’s 50 day moving average is $164.85 and its two-hundred day moving average is $165.68. 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) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

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.