Synergy Investment Management LLC Takes $546,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Synergy Investment Management LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,556 shares of the wireless technology company’s stock, valued at approximately $546,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth about $29,000. Planning Capital Management Corp lifted its position 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 valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $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 quarter, insiders sold 50,045 shares of company stock worth $8,237,043. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QCOM opened at $153.62 on Tuesday. 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 has a fifty day moving average of $164.84 and a 200 day moving average of $165.47. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market cap of $169.90 billion, a P/E ratio of 16.41, a PEG ratio of 2.01 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 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.