Foster & Motley Inc. Acquires 1,653 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Foster & Motley Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,089 shares of the wireless technology company’s stock after buying an additional 1,653 shares during the quarter. Foster & Motley Inc.’s holdings in QUALCOMM were worth $2,932,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of 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 buying an additional 523,244 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. increased its position in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the period. Wedge Capital Management L L P NC increased its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after buying an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC increased its position in shares of QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Evercore ISI raised their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Mizuho reduced their price target 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. Finally, Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s 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 transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.93 on Friday. The firm has a market cap of $191.01 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $160.11 and its two-hundred day simple moving average is $166.88.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend 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%.

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.