Fusion Capital LLC Acquires 2,137 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fusion Capital LLC boosted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,187 shares of the wireless technology company’s stock after buying an additional 2,137 shares during the period. QUALCOMM makes up about 1.2% of Fusion Capital LLC’s portfolio, making the stock its 26th largest position. Fusion Capital LLC’s holdings in QUALCOMM were worth $2,948,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the third 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. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 4.7 %

Shares of QCOM opened at $154.44 on Friday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The stock has a market cap of $170.81 billion, a PE ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. 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 moving average price is $164.85 and its 200-day moving average price is $165.68.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on QCOM shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. UBS Group lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Buying and Selling

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction on 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 $80,596.63. This represents a 61.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 over the last ninety days. 0.08% of the stock is owned by corporate 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.