Roberts Wealth Advisors LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Roberts Wealth Advisors LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,922 shares of the wireless technology company’s stock after buying an additional 658 shares during the period. QUALCOMM makes up approximately 1.6% of Roberts Wealth Advisors LLC’s holdings, making the stock its 20th largest holding. Roberts Wealth Advisors LLC’s holdings in QUALCOMM were worth $3,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust grew its position in shares of QUALCOMM by 103.1% in the second quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. IAG Wealth Partners LLC grew its position in shares of QUALCOMM by 62.3% in the third quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. Sycomore Asset Management grew its position in shares of QUALCOMM by 150.0% in the fourth quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Syverson Strege & Co grew its position in shares of QUALCOMM by 124.3% in the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock valued at $31,000 after purchasing an additional 133 shares during the last quarter. Finally, Old North State Trust LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at approximately $31,000. 70.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of QUALCOMM from $105.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Evercore ISI set a $120.00 target price on shares of QUALCOMM in a research report on Wednesday, November 23rd. Cowen decreased their target price on shares of QUALCOMM from $165.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Susquehanna upgraded shares of QUALCOMM from a “neutral” rating to a “positive” rating and raised their target price for the stock from $130.00 to $140.00 in a research report on Thursday. Finally, KeyCorp raised their target price on shares of QUALCOMM from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $156.48.

QUALCOMM Trading Up 0.2 %

Shares of QCOM stock traded up $0.22 during mid-day trading on Friday, reaching $120.73. The company’s stock had a trading volume of 12,304,145 shares, compared to its average volume of 7,995,837. The company’s 50 day simple moving average is $125.43 and its 200-day simple moving average is $121.15. QUALCOMM Incorporated has a 12-month low of $101.93 and a 12-month high of $161.30. The company has a quick ratio of 1.41, a current ratio of 2.09 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $134.61 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.02. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. The business had revenue of $9.46 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $2.96 EPS. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, research analysts predict that QUALCOMM Incorporated will post 8.21 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, March 1st. QUALCOMM’s dividend payout ratio is presently 28.90%.

Insider Activity

In related news, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total transaction of $310,125.00. Following the sale, the director now owns 4,605 shares of the company’s stock, valued at approximately $571,250.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, insider Alexander H. Rogers sold 27,626 shares of the firm’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the completion of the transaction, the insider now directly owns 23,637 shares of the company’s stock, valued at approximately $3,107,792.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey William Henderson sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $124.05, for a total transaction of $310,125.00. Following the transaction, the director now directly owns 4,605 shares of the company’s stock, valued at $571,250.25. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

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.