SevenBridge Financial Group LLC Has $1.96 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SevenBridge Financial Group LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,785 shares of the wireless technology company's stock after purchasing an additional 1,652 shares during the quarter. SevenBridge Financial Group LLC's holdings in QUALCOMM were worth $1,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter valued at $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business'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 sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

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QUALCOMM Stock Down 9.5 %

QCOM traded down $14.66 during trading hours on Thursday, reaching $139.42. 16,453,352 shares of the stock traded hands, compared to its average volume of 8,624,452. QUALCOMM Incorporated has a fifty-two week low of $138.58 and a fifty-two week high of $230.63. The company has a market cap of $154.20 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm's fifty day simple moving average is $163.33 and its two-hundred day simple moving average is $163.57.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

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.