Private Advisor Group LLC Buys 7,786 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Private Advisor Group LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% in the first quarter, Holdings Channel.com reports. The firm owned 99,210 shares of the wireless technology company’s stock after acquiring an additional 7,786 shares during the period. Private Advisor Group LLC’s holdings in QUALCOMM were worth $15,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of QCOM. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after buying an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $2,721,882,000. Northern Trust Corp increased its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of QUALCOMM by 17.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Up 1.4%

QCOM opened at $154.80 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market cap of $169.97 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26. The firm has a 50 day simple moving average of $153.95 and a 200 day simple moving average of $154.97. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $196.24.

QUALCOMM (NASDAQ:QCOM) last posted 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 business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 earnings per share. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark dropped their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $186.00.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.