Level Four Advisory Services LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,947 shares of the wireless technology company’s stock after purchasing an additional 6,632 shares during the period. Level Four Advisory Services LLC’s holdings in QUALCOMM were worth $6,391,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ten Capital Wealth Advisors LLC grew its stake in shares of QUALCOMM by 263.2% during the third quarter. Ten Capital Wealth Advisors LLC now owns 276 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 200 shares in the last quarter. MFA Wealth Advisors LLC bought a new position in QUALCOMM in the third quarter worth about $36,000. Jackson Wealth Management LLC lifted its holdings in QUALCOMM by 0.3% in the third quarter. Jackson Wealth Management LLC now owns 39,836 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 103 shares during the last quarter. Old North State Trust LLC lifted its holdings in QUALCOMM by 58.9% in the fourth quarter. Old North State Trust LLC now owns 205 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 76 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. lifted its holdings in QUALCOMM by 49.6% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 202 shares of the wireless technology company’s stock worth $37,000 after acquiring an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.
A number of equities research analysts have recently weighed in on QCOM shares. Rosenblatt Securities lifted their price target on QUALCOMM from $220.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, February 3rd. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 3rd. Robert W. Baird lifted their price target on shares of QUALCOMM from $200.00 to $250.00 in a research report on Friday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $240.00 to $205.00 in a research report on Tuesday, April 5th. Finally, StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 7th. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $194.77.
QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its earnings results on Wednesday, April 27th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.19. QUALCOMM had a net margin of 28.42% and a return on equity of 103.73%. The company had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the business earned $1.59 earnings per share. On average, equities analysts predict that QUALCOMM Incorporated will post 11.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 23rd. Stockholders of record on Thursday, June 2nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.30%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Wednesday, June 1st. QUALCOMM’s dividend payout ratio is presently 27.84%.
QUALCOMM Company Profile (Get Rating)
QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.
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