Palacios Wealth Management LLC Buys New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Palacios Wealth Management LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,199 shares of the wireless technology company’s stock, valued at approximately $1,015,000. QUALCOMM makes up about 1.1% of Palacios Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Paulson Wealth Management Inc. lifted its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares in the last quarter. Blossom Wealth Management lifted its position in shares of QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC lifted its position in shares of QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC lifted its holdings in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.1 %

Shares of NASDAQ:QCOM opened at $172.15 on Friday. The business has a 50-day moving average price of $162.64 and a 200 day moving average price of $165.50. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $190.40 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QCOM shares. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was 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 owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock valued at $7,785,781 in the last three months. 0.08% of the stock is owned by corporate insiders.

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.