Kovack Advisors Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kovack Advisors Inc. lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,847 shares of the wireless technology company’s stock after purchasing an additional 352 shares during the period. Kovack Advisors Inc.’s holdings in QUALCOMM were worth $1,974,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $29,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Up 0.5 %

Shares of QUALCOMM stock opened at $162.10 on Thursday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The stock has a market cap of $179.28 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50-day moving average is $164.77 and its two-hundred day moving average is $165.76.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.