Ritholtz Wealth Management Buys 188 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ritholtz Wealth Management raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,147 shares of the wireless technology company’s stock after purchasing an additional 188 shares during the period. Ritholtz Wealth Management’s holdings in QUALCOMM were worth $2,335,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Rheos Capital Works Inc. boosted its stake in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares in the last quarter. HF Advisory Group LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $629,000. DnB Asset Management AS grew its stake in QUALCOMM by 31.1% in the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock valued at $100,893,000 after purchasing an additional 215,522 shares during the period. Sather Financial Group Inc raised its stake in shares of QUALCOMM by 5.8% during the 3rd quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after purchasing an additional 18,090 shares during the period. Finally, Stratos Wealth Advisors LLC grew its position in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after buying an additional 7,682 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock worth $5,457,048 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1 %

QCOM traded up $0.17 during trading on Thursday, hitting $169.30. 5,323,053 shares of the stock traded hands, compared to its average volume of 9,007,399. The firm has a market capitalization of $188.94 billion, a P/E ratio of 24.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a 50-day moving average of $157.64 and a 200 day moving average of $135.88.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. KeyCorp increased their price target on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $148.71.

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.