QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,760 shares of the wireless technology company’s stock after purchasing an additional 3,418 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in QUALCOMM were worth $4,265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter valued at about $27,000. HWG Holdings LP acquired a new stake in QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp increased its position 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 purchasing an additional 114 shares in the last quarter. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $36,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 0.6 %

Shares of QUALCOMM stock opened at $172.27 on Tuesday. The business’s 50 day simple moving average is $159.49 and its 200 day simple moving average is $167.27. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The firm has a market cap of $191.39 billion, a PE ratio of 18.97, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. On average, analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Citigroup cut 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. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

About QUALCOMM

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.