QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Boosted by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,662 shares of the wireless technology company’s stock after purchasing an additional 212 shares during the quarter. Keudell Morrison Wealth Management’s holdings in QUALCOMM were worth $2,406,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC acquired a new stake in QUALCOMM during the second quarter valued at $896,000. Algert Global LLC bought a new position in QUALCOMM during the second quarter valued at approximately $366,000. Clearbridge Investments LLC lifted its stake in QUALCOMM by 0.5% in the second quarter. Clearbridge Investments LLC now owns 221,308 shares of the wireless technology company’s stock valued at $44,080,000 after acquiring an additional 1,036 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in QUALCOMM in the second quarter worth approximately $109,000. Finally, Creekside Partners acquired a new position in shares of QUALCOMM during the 2nd quarter worth $320,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on QCOM shares. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group lifted their price target 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

Shares of QCOM stock opened at $171.93 on Friday. The stock’s fifty day simple moving average is $160.44 and its 200 day simple moving average is $166.92. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The firm has a market cap of $191.01 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, analysts expect that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Transactions at QUALCOMM

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

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.