Pacer Advisors Inc. Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Pacer Advisors Inc. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,481,143 shares of the wireless technology company’s stock after acquiring an additional 289,801 shares during the period. QUALCOMM accounts for about 1.2% of Pacer Advisors Inc.’s holdings, making the stock its 10th biggest position. Pacer Advisors Inc.’s holdings in QUALCOMM were worth $534,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after acquiring an additional 523,244 shares during the period. FNY Investment Advisers LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $2,058,000. Burney Co. raised its holdings in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after buying an additional 18,315 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $172.11 on Monday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The stock’s 50 day moving average price is $159.49 and its two-hundred day moving average price is $167.27. The firm has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % 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, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. 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.