Hillsdale Investment Management Inc. Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Hillsdale Investment Management Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,312 shares of the wireless technology company’s stock after purchasing an additional 280 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in QUALCOMM were worth $190,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. CarsonAllaria Wealth Management Ltd. increased its holdings in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after purchasing an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at $32,000. Cherry Tree Wealth Management LLC increased its holdings in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 115 shares in the last quarter. Financial Gravity Asset Management Inc. increased its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders have sold 68,958 shares of company stock valued at $12,039,527 over the last three months. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. HSBC raised their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. UBS Group boosted their target price on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Argus boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Wells Fargo & Company boosted their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned 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 price target of $180.48.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $200.85 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $224.15 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.45 and a beta of 1.33. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $201.98. The firm’s 50-day moving average price is $173.30 and its two-hundred day moving average price is $153.70.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is 43.01%.

QUALCOMM Profile

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.