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

Cornell Pochily Investment Advisors Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,103 shares of the wireless technology company’s stock after buying an additional 182 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in QUALCOMM were worth $1,606,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rheos Capital Works Inc. grew its holdings in shares of QUALCOMM by 36.8% during the 3rd 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 during the period. HF Advisory Group LLC bought a new position in shares of QUALCOMM in the third quarter worth $629,000. DnB Asset Management AS boosted its stake in 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 buying an additional 215,522 shares in the last quarter. Sather Financial Group Inc boosted its stake in 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 in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its holdings 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 purchasing an additional 7,682 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock valued at $5,457,048 in the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of QCOM stock traded down $0.50 during mid-day trading on Thursday, reaching $168.63. The company’s stock had a trading volume of 938,913 shares, compared to its average volume of 8,934,156. The firm’s 50-day moving average is $157.05 and its two-hundred day moving average is $135.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a market cap of $188.19 billion, a P/E ratio of 24.43, a PEG ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for 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%. On average, research analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on QCOM shares. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $119.00 to $132.00 in a report on Friday, December 8th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Barclays upped their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Piper Sandler raised their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

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.