Empowered Funds LLC Has $1.42 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Empowered Funds LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 31.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,583 shares of the wireless technology company’s stock after buying an additional 3,012 shares during the period. Empowered Funds LLC’s holdings in QUALCOMM were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its holdings in QUALCOMM by 26.7% during the second quarter. Pin Oak Investment Advisors Inc. now owns 337 shares of the wireless technology company’s stock valued at $43,000 after buying an additional 71 shares during the last quarter. Rise Advisors LLC increased its holdings in QUALCOMM by 38.3% during the second quarter. Rise Advisors LLC now owns 260 shares of the wireless technology company’s stock valued at $33,000 after buying an additional 72 shares during the last quarter. Hyman Charles D increased its holdings in QUALCOMM by 0.6% during the second quarter. Hyman Charles D now owns 11,315 shares of the wireless technology company’s stock valued at $1,445,000 after buying an additional 72 shares during the last quarter. Birchcreek Wealth Management LLC increased its holdings in QUALCOMM by 4.3% during the second quarter. Birchcreek Wealth Management LLC now owns 1,797 shares of the wireless technology company’s stock valued at $230,000 after buying an additional 74 shares during the last quarter. Finally, Security National Bank increased its holdings in QUALCOMM by 4.4% during the second quarter. Security National Bank now owns 1,775 shares of the wireless technology company’s stock valued at $227,000 after buying an additional 75 shares during the last quarter. 70.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. HSBC initiated coverage on shares of QUALCOMM in a report on Monday, October 24th. They set a “buy” rating and a $180.00 target price for the company. Canaccord Genuity Group reduced their target price on shares of QUALCOMM from $225.00 to $165.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Morgan Stanley reduced their price objective on shares of QUALCOMM from $170.00 to $147.00 and set an “overweight” rating for the company in a research note on Monday, October 31st. StockNews.com cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Friday, December 16th. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $185.00 to $145.00 and set an “overweight” rating for the company in a research note on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.46.

Insider Activity

In other news, CAO Erin L. Polek sold 2,894 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $121.10, for a total value of $350,463.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Alexander H. Rogers sold 26,427 shares of the firm’s stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total value of $3,232,814.91. Following the transaction, the insider now owns 51,179 shares of the company’s stock, valued at approximately $6,260,727.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $121.10, for a total transaction of $350,463.40. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $130.70 on Wednesday. QUALCOMM Incorporated has a 52 week low of $101.93 and a 52 week high of $192.10. The company has a quick ratio of 1.21, a current ratio of 1.75 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $118.39 and a two-hundred day simple moving average of $126.00. The firm has a market capitalization of $146.02 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $2.74 EPS for the quarter, meeting the consensus estimate of $2.74. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. The business had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.38 billion. Analysts anticipate that QUALCOMM Incorporated will post 8.81 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, March 1st. QUALCOMM’s dividend payout ratio is currently 26.36%.

QUALCOMM Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.