Annis Gardner Whiting Capital Advisors LLC Increases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Annis Gardner Whiting Capital Advisors LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 52.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 842 shares of the wireless technology company’s stock after acquiring an additional 291 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC’s holdings in QUALCOMM were worth $129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc lifted its stake in QUALCOMM by 102.5% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,156 shares of the wireless technology company’s stock worth $707,000 after acquiring an additional 2,104 shares during the period. Two Sigma Advisers LP lifted its position in shares of QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after purchasing an additional 1,380,500 shares during the period. Weaver Consulting Group bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $203,000. Wahed Invest LLC increased its position in shares of QUALCOMM by 14.9% during the third quarter. Wahed Invest LLC now owns 26,927 shares of the wireless technology company’s stock valued at $4,579,000 after buying an additional 3,489 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in QUALCOMM by 177.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 782,322 shares of the wireless technology company’s stock worth $133,034,000 after buying an additional 500,849 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QCOM. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value 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. This trade represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $127.46 on Friday. QUALCOMM Incorporated has a one year low of $126.68 and a one year high of $230.63. The business has a fifty day moving average of $161.74 and a 200 day moving average of $163.13. 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 has a market capitalization of $140.97 billion, a P/E ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.67%. QUALCOMM’s payout ratio is presently 36.32%.

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.