Synergy Asset Management LLC Buys New Shares in QUALCOMM Incorporated (NASDAQ:QCOM)

Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 224 shares of the wireless technology company’s stock, valued at approximately $38,000.

Other large investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the third quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the 4th quarter valued at $27,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% in 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. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the third quarter valued at about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.6 %

NASDAQ QCOM opened at $172.93 on Friday. The company has a market cap of $192.13 billion, a PE ratio of 19.24, a PEG ratio of 2.85 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The stock has a 50 day moving average of $160.44 and a 200-day moving average of $166.92. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

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 analysts’ consensus estimates 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 net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio is 37.82%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus 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.