Pure Financial Advisors LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Pure Financial Advisors LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 42.6% in the fourth quarter, Holdings Channel reports. The fund owned 24,300 shares of the wireless technology company’s stock after buying an additional 7,255 shares during the period. Pure Financial Advisors LLC’s holdings in QUALCOMM were worth $3,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in QUALCOMM by 20.9% during the second quarter. EverSource Wealth Advisors LLC now owns 6,879 shares of the wireless technology company’s stock worth $1,370,000 after buying an additional 1,187 shares during the last quarter. DRW Securities LLC raised its holdings in shares of QUALCOMM by 108.3% during the 2nd quarter. DRW Securities LLC now owns 7,942 shares of the wireless technology company’s stock worth $1,581,000 after acquiring an additional 103,784 shares during the period. Public Sector Pension Investment Board boosted its position in shares of QUALCOMM by 75.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock valued at $8,600,000 after acquiring an additional 18,577 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at about $2,983,000. Finally, Xponance Inc. increased its position in QUALCOMM by 2.5% during the second quarter. Xponance Inc. now owns 283,479 shares of the wireless technology company’s stock worth $56,463,000 after purchasing an additional 6,889 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on QCOM. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 1.9 %

Shares of QUALCOMM stock opened at $164.56 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.75 and a beta of 1.25. The company has a 50 day moving average of $158.85 and a 200 day moving average of $168.57.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.