Kovack Advisors Inc. Purchases 3,067 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kovack Advisors Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 25.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,052 shares of the wireless technology company’s stock after buying an additional 3,067 shares during the quarter. Kovack Advisors Inc.’s holdings in QUALCOMM were worth $2,177,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GHP Investment Advisors Inc. raised its stake in QUALCOMM by 101.4% in the third quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock valued at $81,000 after buying an additional 373 shares during the last quarter. Strategic Blueprint LLC raised its stake in QUALCOMM by 23.0% in the third quarter. Strategic Blueprint LLC now owns 3,755 shares of the wireless technology company’s stock valued at $417,000 after buying an additional 701 shares during the last quarter. Secure Asset Management LLC raised its stake in QUALCOMM by 3.9% in the third quarter. Secure Asset Management LLC now owns 4,459 shares of the wireless technology company’s stock valued at $495,000 after buying an additional 166 shares during the last quarter. Etesian Wealth Advisors Inc. increased its holdings in shares of QUALCOMM by 1.5% in the third quarter. Etesian Wealth Advisors Inc. now owns 9,229 shares of the wireless technology company’s stock valued at $1,025,000 after purchasing an additional 132 shares during the period. Finally, SOL Capital Management CO increased its holdings in shares of QUALCOMM by 0.8% in the third quarter. SOL Capital Management CO now owns 12,810 shares of the wireless technology company’s stock valued at $1,423,000 after purchasing an additional 100 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM 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 completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Neil Martin sold 371 shares of the business’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 transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $2.36 during trading hours on Friday, reaching $165.66. 7,140,396 shares of the company traded hands, compared to its average volume of 8,523,626. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock has a market cap of $184.88 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. The firm’s 50-day moving average is $165.84 and its 200-day moving average is $144.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Equities research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, TD Cowen lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

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.