Cornell Pochily Investment Advisors Inc. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,103 shares of the wireless technology company’s stock after acquiring an additional 182 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in QUALCOMM were worth $1,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Rheos Capital Works Inc. raised its holdings in QUALCOMM by 36.8% in the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after purchasing an additional 42,500 shares in the last quarter. HF Advisory Group LLC bought a new position in shares of QUALCOMM during the third quarter valued at $629,000. DnB Asset Management AS increased its holdings in shares of QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock valued at $100,893,000 after acquiring an additional 215,522 shares in the last quarter. Sather Financial Group Inc boosted its position in shares of QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock valued at $36,377,000 after buying an additional 18,090 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in shares of QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after buying an additional 7,682 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock traded down $0.50 during mid-day trading on Thursday, reaching $168.63. The company had a trading volume of 938,913 shares, compared to its average volume of 8,934,156. The stock has a market capitalization of $188.19 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.28 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The stock’s 50-day simple moving average is $157.05 and its two-hundred day simple moving average is $135.64.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.90%. QUALCOMM’s dividend payout ratio is 46.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on QCOM. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $119.00 to $132.00 in a research report on Friday, December 8th. Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,360 shares of company stock valued at $5,457,048. Corporate insiders own 0.08% of the company’s stock.

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.