Continuum Advisory LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Continuum Advisory LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,448 shares of the wireless technology company’s stock after acquiring an additional 106 shares during the period. Continuum Advisory LLC’s holdings in QUALCOMM were worth $530,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of QCOM. Tallon Kerry Patrick bought a new position in QUALCOMM in the 4th quarter valued at approximately $207,000. LaFleur & Godfrey LLC raised its stake in shares of QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after purchasing an additional 300 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of QUALCOMM by 3.0% during the fourth quarter. Atomi Financial Group Inc. now owns 4,839 shares of the wireless technology company’s stock valued at $743,000 after purchasing an additional 143 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of QUALCOMM by 7.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 463,018 shares of the wireless technology company’s stock valued at $71,129,000 after purchasing an additional 30,253 shares in the last quarter. Finally, Perfromance Wealth Partners LLC boosted its position in shares of QUALCOMM by 3.2% during the fourth quarter. Perfromance Wealth Partners LLC now owns 5,015 shares of the wireless technology company’s stock valued at $770,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,312 shares of company stock valued at $1,948,379. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.6%

QUALCOMM stock opened at $151.31 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50 day moving average price is $145.89 and its 200-day moving average price is $156.67. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The stock has a market cap of $166.14 billion, a P/E ratio of 16.17, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the firm posted $2.44 EPS. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Evercore ISI cut their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus 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.