bLong Financial LLC Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

bLong Financial LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,587 shares of the wireless technology company's stock, valued at approximately $244,000.

Other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company's stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock worth $7,785,781 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.9 %

NASDAQ QCOM traded up $1.58 during mid-day trading on Wednesday, reaching $175.22. 6,844,697 shares of the company's stock traded hands, compared to its average volume of 7,682,005. The company has a fifty day simple moving average of $163.70 and a 200-day simple moving average of $165.54. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The company has a market cap of $193.79 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.94%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

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.