Western Wealth Management LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Western Wealth Management LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 34,391 shares of the wireless technology company’s stock after acquiring an additional 350 shares during the period. Western Wealth Management LLC’s holdings in QUALCOMM were worth $4,974,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in QCOM. Fairfield Bush & CO. raised its holdings in QUALCOMM by 1.3% in the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after purchasing an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in QUALCOMM by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after purchasing an additional 245,335 shares in the last quarter. Merit Financial Group LLC raised its holdings in QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after purchasing an additional 555 shares in the last quarter. NewEdge Advisors LLC raised its holdings in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction 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 approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was 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 directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Canaccord Genuity Group upped their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.90.

QUALCOMM Trading Down 1.8 %

Shares of QCOM traded down $2.88 during midday trading on Thursday, reaching $161.44. The company had a trading volume of 9,205,438 shares, compared to its average volume of 8,615,317. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock has a market cap of $180.17 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.41. The firm has a 50 day simple moving average of $164.47 and a 200-day simple moving average of $142.20. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors 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 2.11%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.