Meridian Wealth Management LLC Buys 3,556 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Meridian Wealth Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 37.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,143 shares of the wireless technology company's stock after buying an additional 3,556 shares during the period. Meridian Wealth Management LLC's holdings in QUALCOMM were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock valued at $7,752,423 over the last three months. Company insiders own 0.08% of the company's stock.

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QUALCOMM Stock Performance

QCOM stock traded up $5.18 during mid-day trading on Friday, hitting $161.22. The company had a trading volume of 8,724,425 shares, compared to its average volume of 8,334,651. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock's fifty day moving average price is $164.68 and its two-hundred day moving average price is $165.23. The firm has a market cap of $178.31 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QCOM shares. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a "hold" rating and a $180.00 price objective on the stock. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Finally, Morgan Stanley decreased 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 note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

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.