Evoke Wealth LLC Purchases 272 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Evoke Wealth LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,073 shares of the wireless technology company’s stock after buying an additional 272 shares during the period. Evoke Wealth LLC’s holdings in QUALCOMM were worth $3,237,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB boosted its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. grew its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter valued at about $240,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $157.95 on Tuesday. The stock has a 50-day moving average price of $164.64 and a 200-day moving average price of $164.32. The firm has a market cap of $174.69 billion, a PE ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.