NewEdge Wealth LLC Buys 1,188 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NewEdge Wealth LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,836 shares of the wireless technology company’s stock after buying an additional 1,188 shares during the period. NewEdge Wealth LLC’s holdings in QUALCOMM were worth $7,809,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QCOM. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock valued at $7,713,734 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 4.7 %

QCOM opened at $154.44 on Friday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $164.85 and a 200-day moving average of $165.68. The stock has a market cap of $170.81 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.