Krilogy Financial LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Krilogy Financial LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,587 shares of the wireless technology company's stock, valued at approximately $1,626,000.

Several other hedge funds have also recently bought and sold shares of QCOM. Inspire Investing LLC increased its holdings in shares of QUALCOMM by 89.1% during the second quarter. Inspire Investing LLC now owns 4,956 shares of the wireless technology company's stock worth $987,000 after buying an additional 2,335 shares in the last quarter. ProVise Management Group LLC grew its position in QUALCOMM by 12.4% during the 2nd quarter. ProVise Management Group LLC now owns 2,148 shares of the wireless technology company's stock worth $428,000 after acquiring an additional 237 shares during the last quarter. Callan Capital LLC increased its holdings in QUALCOMM by 15.9% during the 2nd quarter. Callan Capital LLC now owns 2,421 shares of the wireless technology company's stock valued at $482,000 after purchasing an additional 333 shares in the last quarter. Bridges Investment Management Inc. raised its position in QUALCOMM by 31.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 15,561 shares of the wireless technology company's stock valued at $3,099,000 after purchasing an additional 3,734 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in QUALCOMM by 250.5% in the second quarter. AE Wealth Management LLC now owns 55,214 shares of the wireless technology company's stock worth $10,998,000 after purchasing an additional 39,463 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were 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 owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Mizuho decreased 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. Finally, Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. One investment 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. According to MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $206.57.

QUALCOMM Stock Up 1.9 %

QCOM stock traded up $3.13 during midday trading on Friday, hitting $164.56. The company's stock had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. The company's fifty day moving average price is $158.85 and its 200 day moving average price is $168.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The stock has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25.

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, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

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

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.