Addison Advisors LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Addison Advisors LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,610 shares of the wireless technology company’s stock after buying an additional 132 shares during the quarter. Addison Advisors LLC’s holdings in QUALCOMM were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of QCOM. International Assets Investment Management LLC raised its stake in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of QUALCOMM by 1,543.8% in 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 acquiring an additional 2,659,323 shares during the period. Barclays PLC raised its stake in shares of QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after acquiring an additional 1,842,868 shares during the period. Invesco Ltd. raised its stake in shares of QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after acquiring an additional 1,090,504 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.4 %

Shares of QCOM stock traded up $2.36 during mid-day trading on Friday, hitting $165.66. 7,141,339 shares of the stock traded hands, compared to its average volume of 6,691,146. The stock has a market cap of $184.88 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. The stock’s fifty day moving average is $165.84 and its two-hundred day moving average is $144.47. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Barclays upped their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.