QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Mission Wealth Management LP

Mission Wealth Management LP grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 28.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,622 shares of the wireless technology company’s stock after acquiring an additional 3,695 shares during the period. Mission Wealth Management LP’s holdings in QUALCOMM were worth $2,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the third quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC lifted its holdings in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of QUALCOMM by 184.3% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Rosenblatt Securities upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. KeyCorp upped their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Barclays increased their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Piper Sandler increased their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $160.68.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at $2,747,520. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $165.85 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market cap of $185.09 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.32 and a beta of 1.41. The firm has a 50 day simple moving average of $166.45 and a 200 day simple moving average of $145.75. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

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.