Matrix Asset Advisors Inc. NY Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Matrix Asset Advisors Inc. NY boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 174,254 shares of the wireless technology company’s stock after purchasing an additional 6,594 shares during the quarter. QUALCOMM makes up 2.9% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 11th largest position. Matrix Asset Advisors Inc. NY’s holdings in QUALCOMM were worth $26,769,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new position in QUALCOMM during the second quarter valued at approximately $30,000. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Hershey Financial Advisers LLC bought a new stake in QUALCOMM during the second quarter valued at $42,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Mizuho lowered their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One investment 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 company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Down 0.5 %

NASDAQ:QCOM opened at $171.18 on Tuesday. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $159.49 and a 200-day moving average price of $167.27. The stock has a market cap of $190.18 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Equities analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

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.