RWA Wealth Partners LLC Purchases 42,219 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

RWA Wealth Partners LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,259 shares of the wireless technology company's stock after acquiring an additional 42,219 shares during the period. RWA Wealth Partners LLC's holdings in QUALCOMM were worth $28,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CreativeOne Wealth LLC grew its holdings in QUALCOMM by 36.3% during the third quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company's stock worth $1,312,000 after acquiring an additional 2,056 shares during the period. Public Sector Pension Investment Board grew its stake in shares of QUALCOMM by 11.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company's stock worth $8,210,000 after purchasing an additional 5,100 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of QUALCOMM by 7.0% in the 3rd quarter. Fred Alger Management LLC now owns 59,883 shares of the wireless technology company's stock worth $10,183,000 after purchasing an additional 3,911 shares in the last quarter. PDT Partners LLC lifted its stake in QUALCOMM by 1,223.1% during the third quarter. PDT Partners LLC now owns 17,200 shares of the wireless technology company's stock valued at $2,925,000 after purchasing an additional 15,900 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in QUALCOMM by 78.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,584,292 shares of the wireless technology company's stock worth $269,409,000 after buying an additional 696,872 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

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Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM stock traded up $0.89 during trading on Monday, hitting $153.61. 8,610,780 shares of the stock traded hands, compared to its average volume of 8,605,370. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market cap of $169.89 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a one year low of $147.99 and a one year high of $230.63. The company has a 50 day simple moving average of $164.16 and a 200 day simple moving average of $163.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. QUALCOMM's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Piper Sandler decreased their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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.