Providence Capital Advisors LLC Acquires Shares of 34,400 QUALCOMM Incorporated (NASDAQ:QCOM)

Providence Capital Advisors LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 34,400 shares of the wireless technology company’s stock, valued at approximately $5,285,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,721,882,000. Caisse Des Depots ET Consignations bought a new position in shares of QUALCOMM in the fourth quarter worth about $3,665,000. Providence Wealth Advisors LLC raised its position in QUALCOMM by 1.5% during the 4th quarter. Providence Wealth Advisors LLC now owns 8,837 shares of the wireless technology company’s stock valued at $1,422,000 after purchasing an additional 132 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of QUALCOMM by 16.7% in the 4th quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,007 shares of the wireless technology company’s stock worth $5,378,000 after purchasing an additional 5,015 shares during the period. Finally, LM Advisors LLC raised its holdings in QUALCOMM by 16.4% in the fourth quarter. LM Advisors LLC now owns 12,453 shares of the wireless technology company’s stock worth $1,913,000 after purchasing an additional 1,751 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $157.97 on Friday. The stock has a market cap of $174.71 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The stock has a 50-day moving average price of $164.40 and a two-hundred day moving average price of $163.88. 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 issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by company 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.