Cornerstone Advisory LLC Buys 114 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Advisory LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,816 shares of the wireless technology company’s stock after purchasing an additional 114 shares during the period. Cornerstone Advisory LLC’s holdings in QUALCOMM were worth $279,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM in the 4th quarter worth $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 2.6%

QCOM stock opened at $147.37 on Friday. The business’s 50-day moving average price is $145.68 and its 200-day moving average price is $156.54. The stock has a market cap of $161.81 billion, a P/E ratio of 15.74, a PEG ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

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

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.42%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Susquehanna lowered their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $192.08.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now directly owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,568 shares of company stock worth $1,818,305. Corporate insiders own 0.08% of the company’s stock.

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.