Trace Wealth Advisors LLC Invests $2.45 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Trace Wealth Advisors LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,961 shares of the wireless technology company’s stock, valued at approximately $2,452,000. QUALCOMM makes up about 2.2% of Trace Wealth Advisors LLC’s portfolio, making the stock its 13th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Eagle Strategies LLC increased its holdings in shares of 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 purchasing an additional 59 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC lifted its holdings in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after acquiring an additional 63 shares during the period. PDS Planning Inc lifted its holdings in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares during the period. Finally, CFS Investment Advisory Services LLC raised its holdings in QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.1%

QCOM stock opened at $152.50 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $167.45 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock has a fifty day moving average of $145.94 and a 200-day moving average of $156.84.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. QUALCOMM’s payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company’s stock, valued at $7,423,464.24. This represents a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Citigroup decreased their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.