Opus Capital Group LLC Takes $232,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Opus Capital Group LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,607 shares of the wireless technology company’s stock, valued at approximately $232,000.

Other institutional investors have also added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at about $26,000. Financial Gravity Asset Management Inc. lifted its holdings in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in QUALCOMM in the first quarter worth $26,000. Legacy Financial Group LLC bought a new stake in QUALCOMM in the 3rd quarter worth $29,000. Finally, Pacific Center for Financial Services purchased a new stake in shares of QUALCOMM during the first quarter worth about $31,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ:QCOM traded down $4.26 during mid-day trading on Wednesday, hitting $164.32. The company’s stock had a trading volume of 8,076,507 shares, compared to its average volume of 8,607,316. The business’s fifty day moving average is $164.11 and its two-hundred day moving average is $142.05. The stock has a market cap of $183.38 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 2.32 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating 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 firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Piper Sandler raised 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. Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI assumed coverage on QUALCOMM in a report on Tuesday. They set an “in-line” rating and a $177.00 price objective on the stock. Finally, Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,360 shares of company stock worth $7,184,678. 0.08% of the stock is currently owned by corporate insiders.

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.