Silver Lake Advisory LLC Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Lake Advisory LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.7% in the fourth quarter, HoldingsChannel reports. The firm owned 36,489 shares of the wireless technology company’s stock after acquiring an additional 2,915 shares during the period. QUALCOMM accounts for about 3.0% of Silver Lake Advisory LLC’s holdings, making the stock its 8th biggest position. Silver Lake Advisory LLC’s holdings in QUALCOMM were worth $5,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Peoples Bank OH acquired a new stake in QUALCOMM during the 4th quarter worth $219,000. HF Advisory Group LLC acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $629,000. Bank Hapoalim BM increased its position in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC raised its holdings in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares during the period. Finally, 1834 Investment Advisors Co. lifted its position in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was 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 in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s 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 in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Bank of America increased their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays raised their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.23.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $12.80 on Thursday, reaching $176.91. The stock had a trading volume of 15,153,191 shares, compared to its average volume of 8,608,628. 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 company has a market cap of $197.43 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The firm has a fifty day moving average of $166.69 and a two-hundred day moving average of $145.87. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $181.69.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.92%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.