Orca Wealth Management LLC Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Orca Wealth Management LLC bought a new position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,449 shares of the wireless technology company's stock, valued at approximately $5,138,000. QUALCOMM comprises approximately 4.6% of Orca Wealth Management LLC's investment portfolio, making the stock its 3rd biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group bought a new stake in QUALCOMM in the 4th quarter valued at $27,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm's stock in a transaction 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 in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 94 shares of the company's stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on QCOM shares. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a "hold" rating and a $180.00 target price on the stock. Citigroup cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set a "neutral" rating on the stock in a report on Wednesday, October 16th. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $206.57.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $0.16 during mid-day trading on Wednesday, reaching $171.71. 5,100,980 shares of the stock traded hands, compared to its average volume of 7,555,757. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. 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 stock has a market capitalization of $190.77 billion, a PE ratio of 19.10, a PEG ratio of 2.84 and a beta of 1.25. The business has a 50-day moving average of $159.76 and a 200 day moving average of $166.85.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS 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 firm had revenue of $10.24 billion during the quarter, compared to analysts' expectations of $9.90 billion. On average, analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM's dividend payout ratio is presently 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.