K.J. Harrison & Partners Inc Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

K.J. Harrison & Partners Inc purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,037 shares of the wireless technology company’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peoples Bank OH purchased a new stake in QUALCOMM in the fourth quarter worth $219,000. HF Advisory Group LLC purchased a new stake in QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM grew its stake in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares during the last quarter. NewEdge Wealth LLC grew its stake in shares of QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares during the last quarter. Finally, Stratos Wealth Advisors LLC grew its stake in shares of QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after acquiring an additional 7,682 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $2.36 during trading hours on Friday, reaching $165.66. 7,141,339 shares of the company traded hands, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $184.88 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. The firm has a 50-day moving average price of $165.84 and a 200 day moving average price of $144.47.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.86.

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.