Essential Planning LLC. Invests $3.78 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Essential Planning LLC. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,075 shares of the wireless technology company's stock, valued at approximately $3,780,000.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC purchased a new position in QUALCOMM during the 4th quarter worth $2,058,000. Burney Co. increased its stake in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter valued at $240,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company's stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is owned by insiders.

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Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Melius started 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. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $0.86 during trading hours on Thursday, reaching $151.94. 5,834,592 shares of the company traded hands, compared to its average volume of 8,293,324. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a market cap of $168.05 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.01 and a beta of 1.28. The firm's 50-day moving average is $164.70 and its 200-day moving average is $164.61. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

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.