12,852 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by SVB Wealth LLC

SVB Wealth LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,852 shares of the wireless technology company’s stock, valued at approximately $1,974,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $29,000. Planning Capital Management Corp boosted its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Finally, Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $157.18 on Monday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $164.94 and its two-hundred day simple moving average is $165.61. The stock has a market cap of $173.84 billion, a PE ratio of 16.79, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now 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 document filed with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were 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 of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock valued at $7,713,734 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.