Occidental Asset Management LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Occidental Asset Management LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,319 shares of the wireless technology company's stock after purchasing an additional 2,183 shares during the period. Occidental Asset Management LLC's holdings in QUALCOMM were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter worth $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM in the second quarter worth about $30,000. Planning Capital Management Corp boosted its position in 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 acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a "hold" rating and a $180.00 price target for the company. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research note on Wednesday, November 20th. Finally, Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday. One equities 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $206.57.

QUALCOMM Price Performance

QCOM stock traded up $3.21 during trading on Friday, reaching $164.64. 4,724,816 shares of the company were exchanged, compared to its average volume of 6,852,448. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The stock's 50 day moving average price is $159.21 and its 200 day moving average price is $169.34. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a market cap of $182.92 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 posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating 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 company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. As a group, analysts predict 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. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM's dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares of the company's stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is currently owned by insiders.

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.