Pinnacle Wealth Management Advisory Group LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 38.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,389 shares of the wireless technology company’s stock after buying an additional 2,046 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in QUALCOMM were worth $1,069,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Calamos Wealth Management LLC lifted its position in QUALCOMM by 12.9% during the third quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock worth $245,000 after buying an additional 252 shares during the period. Chicago Partners Investment Group LLC grew its holdings in QUALCOMM by 18.3% in the third quarter. Chicago Partners Investment Group LLC now owns 8,512 shares of the wireless technology company’s stock valued at $925,000 after purchasing an additional 1,316 shares during the period. Altfest L J & Co. Inc. increased its position in QUALCOMM by 113.0% during the third quarter. Altfest L J & Co. Inc. now owns 5,353 shares of the wireless technology company’s stock worth $595,000 after purchasing an additional 2,840 shares during the last quarter. Graypoint LLC raised its stake in QUALCOMM by 10.5% during the third quarter. Graypoint LLC now owns 4,627 shares of the wireless technology company’s stock worth $514,000 after purchasing an additional 441 shares during the period. Finally, Gratus Capital LLC grew its stake in shares of QUALCOMM by 42.1% during the 3rd quarter. Gratus Capital LLC now owns 6,468 shares of the wireless technology company’s stock valued at $718,000 after buying an additional 1,917 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on QCOM shares. Citigroup increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $0.40 during trading on Wednesday, reaching $180.55. The stock had a trading volume of 5,875,146 shares, compared to its average volume of 8,699,306. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The stock has a market cap of $201.49 billion, a PE ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $184.31. The firm’s 50 day moving average price is $168.62 and its two-hundred day moving average price is $148.09.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM 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 value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 46,316 shares of company stock worth $7,796,128 over the last quarter. 0.08% of the stock is owned by company insiders.

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.