KMG Fiduciary Partners LLC Buys 3,989 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KMG Fiduciary Partners LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,295 shares of the wireless technology company's stock after acquiring an additional 3,989 shares during the quarter. QUALCOMM makes up approximately 1.2% of KMG Fiduciary Partners LLC's holdings, making the stock its 15th largest position. KMG Fiduciary Partners LLC's holdings in QUALCOMM were worth $14,332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 39.7% during the fourth 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. FNY Investment Advisers LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $2,058,000. Burney Co. raised its stake in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock worth $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after acquiring an additional 18,315 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company's stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QCOM. Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a "hold" rating and a $180.00 price objective on the stock. Finally, Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus target price of $206.57.

QUALCOMM Price Performance

QCOM stock traded up $3.21 during trading on Friday, reaching $164.64. The company's stock had a trading volume of 4,724,816 shares, compared to its average volume of 6,852,448. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company's fifty day moving average is $159.21 and its 200-day moving average is $169.34. The company has a market capitalization of $182.92 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. On average, research analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM's dividend payout ratio is 37.82%.

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.