MCF Advisors LLC Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

MCF Advisors LLC boosted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,607 shares of the wireless technology company’s stock after purchasing an additional 125 shares during the period. MCF Advisors LLC’s holdings in QUALCOMM were worth $1,015,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in QCOM. State Street Corp lifted its position in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the last quarter. Geode Capital Management LLC raised its position in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Legal & General Group Plc boosted its holdings in QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after buying an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after acquiring an additional 498,284 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $167.27 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The business’s 50 day simple moving average is $158.78 and its two-hundred day simple moving average is $168.29. The stock has a market capitalization of $185.84 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. UBS Group raised their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.57.

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.