Guardian Capital Advisors LP raised its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,141 shares of the wireless technology company’s stock after buying an additional 5,130 shares during the period. Guardian Capital Advisors LP’s holdings in QUALCOMM were worth $6,630,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Bremer Trust National Association acquired a new stake in shares of QUALCOMM during the third quarter worth about $474,000. R.H. Dinel Investment Counsel Inc. increased its stake in shares of QUALCOMM by 21.7% in the third quarter. R.H. Dinel Investment Counsel Inc. now owns 39,750 shares of the wireless technology company’s stock valued at $2,723,000 after buying an additional 7,075 shares during the last quarter. Pure Financial Advisors Inc. increased its stake in shares of QUALCOMM by 13.3% in the third quarter. Pure Financial Advisors Inc. now owns 18,151 shares of the wireless technology company’s stock valued at $1,243,000 after buying an additional 2,127 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of QUALCOMM during the third quarter valued at $704,000. Finally, Searle & CO. bought a new stake in shares of QUALCOMM during the third quarter valued at $536,000. Hedge funds and other institutional investors own 79.28% of the company’s stock.
Shares of QUALCOMM, Inc. (NASDAQ:QCOM) traded down 0.30% during trading on Friday, hitting $52.50. The company’s stock had a trading volume of 10,951,539 shares. The company has a market cap of $77.54 billion, a PE ratio of 16.01 and a beta of 1.31. QUALCOMM, Inc. has a 52 week low of $50.11 and a 52 week high of $71.62. The firm’s 50 day moving average price is $56.29 and its 200-day moving average price is $61.79.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, May 31st will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, May 26th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.53. This represents a $2.28 annualized dividend and a dividend yield of 4.34%. QUALCOMM’s dividend payout ratio (DPR) is 64.63%.
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Several analysts have weighed in on the company. Vetr downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating and set a $74.42 price objective for the company. in a research report on Tuesday, January 17th. Rosenblatt Securities raised QUALCOMM from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Thursday, January 12th. Canaccord Genuity reissued a “buy” rating and set a $81.00 target price on shares of QUALCOMM in a research note on Thursday, January 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $80.00 price target on shares of QUALCOMM in a research note on Wednesday, December 28th. Finally, Instinet cut QUALCOMM from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $70.00 in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.55.
In related news, EVP Cristiano R. Amon acquired 18,815 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was acquired at an average cost of $53.13 per share, for a total transaction of $999,640.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony J. Vinciquerra bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 30th. The shares were acquired at an average cost of $53.99 per share, with a total value of $53,990.00. Following the completion of the purchase, the director now owns 1,281 shares of the company’s stock, valued at $69,161.19. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.
About QUALCOMM
QUALCOMM Incorporated is engaged in the development and commercialization of a digital communication technology called code division multiple access (CDMA). The Company is engaged in the development and commercialization of the orthogonal frequency division multiple access (OFDMA) family of technologies, including long-term evolution (LTE), which is an Orthogonal Frequency Division Multiplexing (OFDM)-based standard that uses OFDMA and single-carrier Frequency Division Multiple Access (FDMA), for cellular wireless communication applications.
