Lee Danner & Bass Inc. Purchases New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Lee Danner & Bass Inc. bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,742 shares of the wireless technology company's stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Moran Wealth Management LLC lifted its position in shares of QUALCOMM by 8.3% in the third quarter. Moran Wealth Management LLC now owns 9,636 shares of the wireless technology company's stock worth $1,639,000 after purchasing an additional 742 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in QUALCOMM by 0.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 37,826 shares of the wireless technology company's stock valued at $6,432,000 after buying an additional 120 shares during the period. LPL Financial LLC lifted its position in QUALCOMM by 10.6% in the 3rd quarter. LPL Financial LLC now owns 1,286,536 shares of the wireless technology company's stock worth $218,775,000 after buying an additional 123,215 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of QUALCOMM by 0.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 17,112 shares of the wireless technology company's stock valued at $2,910,000 after buying an additional 150 shares during the period. Finally, Smithfield Trust Co grew its holdings in shares of QUALCOMM by 5.8% during the 3rd quarter. Smithfield Trust Co now owns 4,559 shares of the wireless technology company's stock valued at $773,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Insider Activity at QUALCOMM

In other QUALCOMM news, 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Benchmark reaffirmed a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Performance

QUALCOMM stock traded down $1.76 on Wednesday, hitting $158.39. The company's stock had a trading volume of 5,959,028 shares, compared to its average volume of 8,210,342. The company has a fifty day moving average price of $164.59 and a 200-day moving average price of $163.96. The firm has a market cap of $175.18 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results 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 return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

QUALCOMM 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.