ProShare Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

ProShare Advisors LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,688,851 shares of the wireless technology company's stock after purchasing an additional 249,713 shares during the period. QUALCOMM makes up 0.6% of ProShare Advisors LLC's portfolio, making the stock its 23rd largest holding. ProShare Advisors LLC owned about 0.15% of QUALCOMM worth $259,441,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Eagle Strategies LLC grew its stake in QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in QUALCOMM by 3.6% in 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 acquiring an additional 59 shares during the last quarter. TBH Global Asset Management LLC grew its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after acquiring an additional 63 shares during the last quarter. PDS Planning Inc grew its stake in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after acquiring an additional 64 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its stake in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock valued at $929,000 after acquiring an additional 65 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 over the last 90 days. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.1%

QCOM opened at $152.98 on Thursday. The company has a market cap of $167.97 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm has a 50 day moving average price of $146.00 and a 200 day moving average price of $157.22. QUALCOMM Incorporated has a 1 year low of $120.80 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QCOM shares. TD Cowen reduced their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $192.08.

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.

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