Silver Lake Advisory LLC Boosts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Lake Advisory LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,489 shares of the wireless technology company’s stock after acquiring an additional 2,915 shares during the quarter. QUALCOMM accounts for 3.0% of Silver Lake Advisory LLC’s portfolio, making the stock its 8th largest position. Silver Lake Advisory LLC’s holdings in QUALCOMM were worth $5,277,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Peoples Bank OH bought a new position in QUALCOMM in the 4th quarter valued at $219,000. HF Advisory Group LLC bought a new position in shares of QUALCOMM in the third quarter worth about $629,000. Bank Hapoalim BM lifted its holdings in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. boosted its position in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on QCOM. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday. Barclays upped their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Robert W. Baird raised their price target on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Finally, Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.23.

QUALCOMM Stock Performance

QUALCOMM stock traded up $12.80 during trading hours on Thursday, hitting $176.91. 15,153,191 shares of the stock traded hands, compared to its average volume of 8,608,628. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $181.69. The stock has a market capitalization of $197.43 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm’s 50 day moving average price is $166.69 and its 200-day moving average price is $145.87.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.92%. 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 46.38%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM 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.