Horizon Investment Services LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Horizon Investment Services LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,609 shares of the wireless technology company’s stock after buying an additional 437 shares during the quarter. QUALCOMM comprises about 1.7% of Horizon Investment Services LLC’s investment portfolio, making the stock its 19th biggest holding. Horizon Investment Services LLC’s holdings in QUALCOMM were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. CreativeOne Wealth LLC boosted its stake in QUALCOMM by 36.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company’s stock valued at $1,312,000 after purchasing an additional 2,056 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in QUALCOMM by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company’s stock worth $8,210,000 after buying an additional 5,100 shares in the last quarter. Providence Wealth Advisors LLC raised its position in QUALCOMM by 3.3% in the 3rd quarter. Providence Wealth Advisors LLC now owns 8,705 shares of the wireless technology company’s stock worth $1,468,000 after buying an additional 280 shares during the last quarter. Icon Wealth Advisors LLC lifted its stake in QUALCOMM by 1.7% during the 3rd quarter. Icon Wealth Advisors LLC now owns 15,123 shares of the wireless technology company’s stock valued at $2,572,000 after acquiring an additional 252 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its holdings in shares of QUALCOMM by 1.3% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 94,176 shares of the wireless technology company’s stock valued at $16,015,000 after acquiring an additional 1,207 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $152.72 on Friday. The business’s 50-day moving average is $164.16 and its 200 day moving average is $163.82. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

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.