Cornerstone Wealth Group LLC Boosts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Wealth Group LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 31,788 shares of the wireless technology company’s stock after buying an additional 1,454 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in QUALCOMM were worth $4,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP bought a new stake in shares of QUALCOMM during the second quarter valued at about $30,000. Reston Wealth Management LLC purchased a new position in QUALCOMM during the third quarter valued at approximately $26,000. Planning Capital Management Corp increased its holdings in 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 acquiring an additional 114 shares during the period. Hershey Financial Advisers LLC purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $42,000. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at $36,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QCOM has been the topic of several research analyst reports. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock 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 50-day moving average price of $159.49 and a 200-day moving average price of $167.56. The company has a market cap 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 12 month low of $139.26 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.