QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 338.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,657 shares of the wireless technology company’s stock after acquiring an additional 10,540 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in QUALCOMM were worth $2,098,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in QCOM. CX Institutional raised its holdings in QUALCOMM by 334.2% in the 3rd quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock valued at $4,244,000 after buying an additional 19,212 shares during the period. Wesbanco Bank Inc. increased its position in shares of QUALCOMM by 0.7% during the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock valued at $2,311,000 after acquiring an additional 88 shares during the last quarter. Creative Planning raised its stake in shares of QUALCOMM by 0.5% in the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock valued at $68,147,000 after acquiring an additional 2,086 shares during the period. Magnus Financial Group LLC lifted its holdings in shares of QUALCOMM by 17.1% in the 3rd quarter. Magnus Financial Group LLC now owns 2,968 shares of the wireless technology company’s stock worth $505,000 after acquiring an additional 434 shares during the last quarter. Finally, Regatta Capital Group LLC boosted its position in shares of QUALCOMM by 29.7% during the 3rd quarter. Regatta Capital Group LLC now owns 1,867 shares of the wireless technology company’s stock worth $317,000 after purchasing an additional 428 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QCOM. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,268 shares of company stock worth $7,785,781. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $170.29 on Thursday. QUALCOMM Incorporated has a 52 week low of $148.41 and a 52 week high of $230.63. The firm has a market capitalization of $188.34 billion, a PE ratio of 18.19, a P/E/G ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $162.50 and its 200 day simple moving average is $165.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

About QUALCOMM

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.