Arrowroot Family Office LLC Takes $211,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Arrowroot Family Office LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, HoldingsChannel reports. The fund bought 1,373 shares of the wireless technology company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM in the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on QCOM shares. Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Evercore ISI decreased their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a report on Friday. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $192.58.

QUALCOMM Stock Up 3.4 %

QCOM stock opened at $139.81 on Friday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The business has a fifty day moving average price of $147.74 and a 200-day moving average price of $158.53. The stock has a market capitalization of $154.63 billion, a P/E ratio of 14.94, 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.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the business earned $2.44 EPS. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 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 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.55%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is 36.25%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction 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 transaction, the chief accounting officer now owns 461 shares in the company, 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, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,266 shares of company stock valued at $5,267,436. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.