SevenBridge Financial Group LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,785 shares of the wireless technology company's stock after acquiring an additional 1,652 shares during the quarter. SevenBridge Financial Group LLC's holdings in QUALCOMM were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.
Insider Activity
In related news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction on 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 transaction, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company's stock.
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QUALCOMM Stock Performance
NASDAQ:QCOM traded down $11.96 during mid-day trading on Friday, hitting $127.46. The stock had a trading volume of 19,007,907 shares, compared to its average volume of 8,671,907. The company has a 50 day simple moving average of $161.74 and a 200-day simple moving average of $163.13. QUALCOMM Incorporated has a 52 week low of $126.68 and a 52 week high of $230.63. The stock has a market capitalization of $140.97 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.
QUALCOMM Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.
Analysts Set New Price Targets
QCOM has been the subject of a number of research analyst reports. Benchmark reissued a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.
Read Our Latest Stock Analysis on QUALCOMM
About QUALCOMM
(Free Report)
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.
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