AssuredPartners Investment Advisors LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

AssuredPartners Investment Advisors LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, Holdings Channel.com reports. The firm bought 6,053 shares of the wireless technology company’s stock, valued at approximately $930,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. CreativeOne Wealth LLC lifted its holdings in shares of QUALCOMM by 36.3% during the third quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company’s stock worth $1,312,000 after purchasing an additional 2,056 shares during the period. National Wealth Management Group LLC acquired a new position in QUALCOMM in the 3rd quarter worth approximately $431,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in QUALCOMM by 10.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 774,210 shares of the wireless technology company’s stock worth $131,654,000 after buying an additional 71,644 shares during the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $20,008,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of QUALCOMM by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company’s stock valued at $8,210,000 after acquiring an additional 5,100 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value 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. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM stock opened at $157.97 on Friday. 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. The firm has a market capitalization of $174.71 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a 50 day simple moving average of $164.40 and a 200-day simple moving average of $163.88.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average 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.