Cassaday & Co Wealth Management LLC Has $815,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cassaday & Co Wealth Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,306 shares of the wireless technology company’s stock after acquiring an additional 606 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in QUALCOMM were worth $815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in QCOM. Nordea Investment Management AB raised its stake in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position 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 purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM during the fourth quarter worth about $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $240,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $173.70 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $148.90 and a 52-week high of $230.63. The company has a market capitalization of $192.11 billion, a P/E ratio of 18.56, a PEG ratio of 2.03 and a beta of 1.25. The company has a fifty day moving average price of $164.32 and a 200-day moving average price of $165.67.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,964 shares of company stock valued at $7,583,661. 0.08% of the stock is currently owned by company insiders.

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.