Alta Wealth Advisors LLC Purchases 416 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Alta Wealth Advisors LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,974 shares of the wireless technology company’s stock after buying an additional 416 shares during the period. Alta Wealth Advisors LLC’s holdings in QUALCOMM were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on QCOM. Morgan Stanley cut their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.1 %

Shares of QCOM opened at $171.93 on Friday. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The business has a 50-day moving average of $160.44 and a 200 day moving average of $166.92. The firm has a market cap of $191.01 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.