Meriwether Wealth & Planning LLC Purchases Shares of 1,456 QUALCOMM Incorporated (NASDAQ:QCOM)

Meriwether Wealth & Planning LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,456 shares of the wireless technology company’s stock, valued at approximately $224,000.

Several other hedge funds have also bought and sold shares of the stock. Johnson Investment Counsel Inc. grew its holdings in QUALCOMM by 1.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 32,025 shares of the wireless technology company’s stock valued at $4,920,000 after purchasing an additional 361 shares during the period. Tiemann Investment Advisors LLC boosted its stake in shares of QUALCOMM by 7.6% in the fourth quarter. Tiemann Investment Advisors LLC now owns 1,697 shares of the wireless technology company’s stock worth $261,000 after acquiring an additional 120 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of QUALCOMM by 11.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 310,093 shares of the wireless technology company’s stock worth $47,637,000 after acquiring an additional 31,682 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of QUALCOMM by 6.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823,029 shares of the wireless technology company’s stock worth $126,434,000 after acquiring an additional 48,819 shares during the period. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of QUALCOMM by 4.7% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 23,876 shares of the wireless technology company’s stock worth $3,668,000 after acquiring an additional 1,078 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on QCOM. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Up 3.3 %

Shares of NASDAQ QCOM opened at $161.22 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s 50 day moving average price is $164.76 and its 200-day moving average price is $165.03. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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 expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

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.