QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Boosted by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,697 shares of the wireless technology company's stock after purchasing an additional 16,443 shares during the period. QUALCOMM comprises about 3.2% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 10th largest holding. Matrix Asset Advisors Inc. NY's holdings in QUALCOMM were worth $29,293,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Strategies LLC grew its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after buying an additional 59 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after buying an additional 59 shares in the last quarter. PDS Planning Inc raised its position in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its holdings in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock valued at $73,000 after acquiring an additional 65 shares during the last quarter. Finally, 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 in the last quarter. Institutional investors own 74.35% of the company's stock.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock worth $8,135,164. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Rosenblatt Securities restated a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Finally, Benchmark dropped their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $186.96.

QUALCOMM Trading Up 0.1%

QCOM stock traded up $0.22 during mid-day trading on Wednesday, reaching $155.93. The company had a trading volume of 5,277,103 shares, compared to its average volume of 8,524,083. The company has a market capitalization of $171.21 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The firm has a 50 day moving average of $148.16 and a 200 day moving average of $154.83. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM's revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.28%. QUALCOMM's dividend payout ratio is presently 36.25%.

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.