Investor s Fiduciary Advisor Network LLC Invests $561,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Investor s Fiduciary Advisor Network LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,655 shares of the wireless technology company’s stock, valued at approximately $561,000.

A number of other large investors have also recently bought and sold shares of QCOM. China Universal Asset Management Co. Ltd. raised its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $2,058,000. Burney Co. lifted its holdings in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Howard Bailey Securities LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $240,000. Finally, Greenup Street Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $2,256,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on QCOM shares. Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Citigroup dropped their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday. Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Finally, Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $192.08.

Insider Activity at QUALCOMM

In other QUALCOMM news, 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 value of $3,275,511.21. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,599 shares of company stock worth $5,733,290 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 0.1 %

Shares of NASDAQ QCOM opened at $145.30 on Friday. The business has a 50-day simple moving average of $146.38 and a two-hundred day simple moving average of $157.49. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a market cap of $159.54 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 EPS. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is presently 36.25%.

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.