QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Raised by Waverly Advisors LLC

Waverly Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 42.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,487 shares of the wireless technology company’s stock after purchasing an additional 11,128 shares during the period. Waverly Advisors LLC’s holdings in QUALCOMM were worth $5,759,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the last quarter. Howard Bailey Securities LLC acquired a new position in QUALCOMM during the fourth quarter valued at $240,000. Greenup Street Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at $2,256,000. MFA Wealth Services acquired a new position in QUALCOMM during the fourth quarter valued at $457,000. Finally, Clear Harbor Asset Management LLC raised its position in QUALCOMM by 28.3% during the fourth quarter. Clear Harbor Asset Management LLC now owns 14,347 shares of the wireless technology company’s stock valued at $2,204,000 after buying an additional 3,162 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM opened at $153.82 on Wednesday. The firm has a market capitalization of $168.89 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The stock’s 50 day moving average price is $145.99 and its two-hundred day moving average price is $156.70. 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 12-month low of $120.80 and a 12-month high of $230.63.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on QCOM. Susquehanna dropped their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price target on shares of QUALCOMM 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $192.08.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is currently owned by company insiders.

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.