Successful Portfolios LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Successful Portfolios LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,398 shares of the wireless technology company’s stock, valued at approximately $202,000.

A number of other large investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its holdings in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank bought a new position in QUALCOMM in the fourth quarter worth approximately $1,467,351,000. Cowa LLC purchased a new position in QUALCOMM during the 1st quarter worth $94,000. Morgan Stanley lifted its holdings in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after buying an additional 3,929,586 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 in the last ninety days. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QCOM shares. Mizuho increased their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. KeyCorp upped their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Rosenblatt Securities raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $0.17 during mid-day trading on Thursday, reaching $169.30. The stock had a trading volume of 5,261,760 shares, compared to its average volume of 9,004,606. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The stock has a market capitalization of $188.94 billion, a PE ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock has a 50-day simple moving average of $157.64 and a two-hundred day simple moving average of $135.88.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.