Hennessy Advisors Inc. Buys 147 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hennessy Advisors Inc. raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 20,429 shares of the wireless technology company’s stock after acquiring an additional 147 shares during the period. Hennessy Advisors Inc.’s holdings in QUALCOMM were worth $2,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the period. State Street Corp raised its position in QUALCOMM by 1.1% during 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 lifted its holdings in QUALCOMM by 117,461.0% during 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 in the last quarter. Morgan Stanley increased its stake in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of QUALCOMM by 7.0% during the 2nd quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock worth $2,147,831,000 after purchasing an additional 1,178,546 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $0.17 during midday trading on Friday, hitting $169.30. The company had a trading volume of 5,323,975 shares, compared to its average volume of 8,895,906. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $158.12 and a two-hundred day simple moving average of $136.11. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. TD Cowen increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $119.00 to $132.00 in a research note on Friday, December 8th. Rosenblatt Securities upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $148.71.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the transaction, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,360 shares of company stock valued at $5,457,048. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.