Secure Asset Management LLC Purchases 1,163 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Secure Asset Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,491 shares of the wireless technology company’s stock after purchasing an additional 1,163 shares during the quarter. Secure Asset Management LLC’s holdings in QUALCOMM were worth $1,765,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. grew its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the period. Wedge Capital Management L L P NC boosted its holdings in QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC grew its stake in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $174.36 on Friday. The company has a 50 day simple moving average of $159.05 and a two-hundred day simple moving average of $168.04. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a market capitalization of $193.71 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.84 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 announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QCOM shares. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

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.