Strategic Financial Concepts LLC Acquires 537,966 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Financial Concepts LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15,753.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 541,381 shares of the wireless technology company’s stock after buying an additional 537,966 shares during the quarter. Strategic Financial Concepts LLC’s holdings in QUALCOMM were worth $83,167,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp lifted 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 acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $38,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday. One 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock valued at $4,000,870 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 3.7 %

Shares of NASDAQ:QCOM opened at $169.32 on Friday. QUALCOMM Incorporated has a 1 year low of $143.63 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business’s 50-day moving average is $161.70 and its 200-day moving average is $166.02. The company has a market capitalization of $188.11 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 37.82%.

QUALCOMM Company 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.