Steward Partners Investment Advisory LLC Has $13.82 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Steward Partners Investment Advisory LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,966 shares of the wireless technology company’s stock after buying an additional 5,226 shares during the period. Steward Partners Investment Advisory LLC’s holdings in QUALCOMM were worth $13,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $29,000. Planning Capital Management Corp lifted its position 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 buying an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $38,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $154.46 on Wednesday. The firm has a market cap of $170.83 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The firm’s 50-day simple moving average is $164.75 and its 200-day simple moving average is $165.34.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on QCOM. UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,045 shares of company stock worth $8,237,043 in the last quarter. 0.08% of the stock is owned by corporate insiders.

About QUALCOMM

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.