Empirical Asset Management LLC Buys 224 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Empirical Asset Management LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,005 shares of the wireless technology company’s stock after purchasing an additional 224 shares during the period. Empirical Asset Management LLC’s holdings in QUALCOMM were worth $579,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the period. BlackRock Inc. raised its position in QUALCOMM by 1.4% in the second quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock worth $10,128,928,000 after acquiring an additional 1,191,089 shares during the period. State Street Corp raised its position in QUALCOMM by 1.1% in the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock worth $5,837,985,000 after acquiring an additional 549,861 shares during the period. Moneta Group Investment Advisors LLC raised its position in shares of QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares during the period. Finally, Morgan Stanley raised its position in shares of QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares during the period. Institutional investors own 71.10% of the company’s stock.

QUALCOMM Trading Up 1.9 %

NASDAQ:QCOM traded up $3.18 during midday trading on Thursday, reaching $170.85. 8,495,916 shares of the stock traded hands, compared to its average volume of 9,307,123. The company has a fifty day moving average of $154.75 and a 200 day moving average of $133.88. 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 quick ratio of 1.88 and a current ratio of 2.56. The stock has a market capitalization of $190.67 billion, a P/E ratio of 24.76, a PEG ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, research analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.87%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research reports. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Piper Sandler boosted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Barclays boosted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Mizuho boosted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

View Our Latest Research Report on QUALCOMM

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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