LM Advisors LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

LM Advisors LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,453 shares of the wireless technology company's stock after purchasing an additional 1,751 shares during the period. LM Advisors LLC's holdings in QUALCOMM were worth $1,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi lifted its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of QUALCOMM during the 4th quarter worth about $527,053,000. Northern Trust Corp grew its stake in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Finally, TD Cowen cut their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $192.08.

QUALCOMM Price Performance

QCOM stock traded up $0.74 during mid-day trading on Thursday, reaching $148.34. 5,979,884 shares of the company traded hands, compared to its average volume of 8,820,115. The company has a fifty day moving average price of $144.83 and a 200-day moving average price of $155.88. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a market capitalization of $162.88 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. QUALCOMM's revenue was up 17.0% on a year-over-year basis. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.40%. QUALCOMM's payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 425,068 shares of company stock worth $8,418,305 over the last 90 days. 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.