HighPoint Advisor Group LLC Invests $4.63 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

HighPoint Advisor Group LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,001 shares of the wireless technology company’s stock, valued at approximately $4,628,000.

A number of other hedge funds also recently bought and sold shares of QCOM. Vanguard Group Inc. boosted its position in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Morgan Stanley increased its holdings in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after purchasing an additional 438,660 shares during the last quarter. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter worth $2,507,978,000. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after purchasing an additional 415,398 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 2.8 %

QCOM stock traded up $6.27 during midday trading on Tuesday, hitting $228.49. The stock had a trading volume of 3,625,052 shares, compared to its average volume of 8,859,033. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $229.24. The firm has a market cap of $254.99 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company’s 50-day moving average price is $188.58 and its 200 day moving average price is $164.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued 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 1.49%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Bank of America lifted their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Piper Sandler lifted their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Canaccord Genuity Group boosted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Argus increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $188.74.

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.