QUALCOMM Incorporated (NASDAQ:QCOM) Position Boosted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,742 shares of the wireless technology company’s stock after purchasing an additional 766 shares during the quarter. Avantax Advisory Services Inc.’s holdings in QUALCOMM were worth $3,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. TBH Global Asset Management LLC increased its position in shares of QUALCOMM by 3.8% in the third quarter. TBH Global Asset Management LLC now owns 6,523 shares of the wireless technology company’s stock worth $724,000 after acquiring an additional 238 shares in the last quarter. Wealthfront Advisers LLC raised its stake in QUALCOMM by 48.9% during the 3rd quarter. Wealthfront Advisers LLC now owns 88,008 shares of the wireless technology company’s stock valued at $9,774,000 after purchasing an additional 28,909 shares during the period. New Mexico Educational Retirement Board raised its stake in QUALCOMM by 7.0% during the 3rd quarter. New Mexico Educational Retirement Board now owns 57,957 shares of the wireless technology company’s stock valued at $6,437,000 after purchasing an additional 3,800 shares during the period. Kinsale Capital Group Inc. boosted its position in shares of QUALCOMM by 23.0% in the third quarter. Kinsale Capital Group Inc. now owns 11,557 shares of the wireless technology company’s stock worth $1,283,000 after buying an additional 2,160 shares during the period. Finally, Paulson Wealth Management Inc. grew its holdings in shares of QUALCOMM by 42.0% during the third quarter. Paulson Wealth Management Inc. now owns 4,113 shares of the wireless technology company’s stock valued at $457,000 after buying an additional 1,216 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QCOM. Barclays increased their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler raised their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Bank of America lifted their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley upped their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $180.48.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the 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 of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the 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 of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 58,160 shares of company stock worth $9,939,349 over the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 0.3 %

Shares of NASDAQ:QCOM opened at $193.99 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock’s 50-day moving average is $171.39 and its 200-day moving average is $151.08. The company has a market cap of $216.49 billion, a P/E ratio of 26.16, a P/E/G ratio of 2.28 and a beta of 1.33. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $196.08.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is currently 43.01%.

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.