Greykasell Wealth Strategies Inc. Takes $631,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Greykasell Wealth Strategies Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,107 shares of the wireless technology company's stock, valued at approximately $631,000.

Several other institutional investors have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $29,000. Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% during the third 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. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $38,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 3.1 %

QCOM stock traded up $4.64 during midday trading on Friday, hitting $156.58. 5,306,194 shares of the company's stock were exchanged, compared to its average volume of 8,248,235. The stock has a market capitalization of $173.18 billion, a PE ratio of 16.73, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The business has a 50-day simple moving average of $164.68 and a two-hundred day simple moving average of $164.40. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM's dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Finally, Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,555 shares of company stock worth $5,094,134. Corporate 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.