By otakuyassine3@gmail.com 
Kingswood Wealth Advisors LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,467 shares of the wireless technology company’s stock after purchasing an additional 819 shares during the period. Kingswood Wealth Advisors LLC’s holdings in QUALCOMM were worth $4,220,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the 2nd quarter valued at $30,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter worth $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the third quarter valued at $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
QCOM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.
View Our Latest Stock Report on QCOM
QUALCOMM Price Performance
Shares of NASDAQ QCOM opened at $172.11 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The business has a 50 day simple moving average of $159.49 and a 200-day simple moving average of $167.56.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th 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 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.
Insider Buying and Selling
In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.
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.
Further Reading
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