Bay Capital Advisors LLC Takes $233,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Bay Capital Advisors LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel reports. The firm purchased 1,515 shares of the wireless technology company’s stock, valued at approximately $233,000.

A number of other large investors also recently bought and sold shares of QCOM. PKS Advisory Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $320,000. Heritage Wealth Management Inc. CA lifted its holdings in QUALCOMM by 4.6% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 4,920 shares of the wireless technology company’s stock valued at $756,000 after purchasing an additional 217 shares in the last quarter. Zions Bancorporation N.A. raised its position in shares of QUALCOMM by 13.5% during the 4th quarter. Zions Bancorporation N.A. now owns 6,532 shares of the wireless technology company’s stock worth $1,003,000 after purchasing an additional 777 shares during the last quarter. FineMark National Bank & Trust lifted its stake in QUALCOMM by 17.3% in the 4th quarter. FineMark National Bank & Trust now owns 93,383 shares of the wireless technology company’s stock valued at $14,345,000 after buying an additional 13,757 shares in the last quarter. Finally, Ashton Thomas Securities LLC increased its stake in QUALCOMM by 4.6% during the 4th quarter. Ashton Thomas Securities LLC now owns 4,828 shares of the wireless technology company’s stock worth $736,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $160.08 on Tuesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a market capitalization of $177.05 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s 50-day moving average is $164.57 and its two-hundred day moving average is $163.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.12%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 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.