New Wave Wealth Advisors LLC Acquires New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

New Wave Wealth Advisors LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, HoldingsChannel.com reports. The firm bought 435 shares of the wireless technology company’s stock, valued at approximately $67,000.

Other large investors also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp increased its stake 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 worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCOM shares. 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. Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.93 on Friday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The firm has a market capitalization of $192.13 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.85 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $160.44 and its 200 day simple moving average is $166.92.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

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.