QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,688,851 shares of the wireless technology company’s stock after purchasing an additional 249,713 shares during the quarter. QUALCOMM makes up about 0.6% of ProShare Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. ProShare Advisors LLC’s holdings in QUALCOMM were worth $259,441,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sovereign Financial Group Inc. lifted its stake in QUALCOMM by 2.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,144 shares of the wireless technology company’s stock valued at $637,000 after buying an additional 87 shares during the last quarter. Accurate Wealth Management LLC lifted its stake in QUALCOMM by 23.4% in the fourth quarter. Accurate Wealth Management LLC now owns 9,881 shares of the wireless technology company’s stock valued at $1,551,000 after buying an additional 1,872 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in QUALCOMM by 0.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 16,980 shares of the wireless technology company’s stock valued at $2,608,000 after buying an additional 141 shares during the last quarter. Pines Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at $1,392,000. Finally, Define Financial LLC bought a new stake in QUALCOMM in the fourth quarter valued at $242,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.1%

Shares of QCOM opened at $152.98 on Thursday. The business’s 50-day moving average price is $146.00 and its 200 day moving average price is $157.22. The stock has a market capitalization of $167.97 billion, a P/E ratio of 16.34, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Finally, Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $192.08.

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.