Verus Financial Partners Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Verus Financial Partners Inc. acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 7,649 shares of the wireless technology company’s stock, valued at approximately $1,201,000.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Everett Harris & Co. CA lifted its position in QUALCOMM by 3.4% during the fourth quarter. Everett Harris & Co. CA now owns 32,543 shares of the wireless technology company’s stock valued at $4,999,000 after buying an additional 1,057 shares in the last quarter. Clear Creek Financial Management LLC lifted its holdings in shares of QUALCOMM by 57.0% during the 4th quarter. Clear Creek Financial Management LLC now owns 2,652 shares of the wireless technology company’s stock valued at $407,000 after acquiring an additional 963 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in QUALCOMM during the 4th quarter worth $360,000. GFS Advisors LLC increased its holdings in QUALCOMM by 1.7% in the 4th quarter. GFS Advisors LLC now owns 7,820 shares of the wireless technology company’s stock valued at $1,201,000 after purchasing an additional 130 shares in the last quarter. Finally, Caprock Group LLC raised its position in QUALCOMM by 2.9% in the fourth quarter. Caprock Group LLC now owns 34,376 shares of the wireless technology company’s stock valued at $5,281,000 after purchasing an additional 969 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.6 %

NASDAQ:QCOM opened at $172.93 on Friday. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month 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 has a 50 day simple moving average of $160.76 and a 200 day simple moving average of $166.67. The firm has a market capitalization of $192.13 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities research analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Announces Dividend

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 issued a dividend of $0.85 per share. The ex-dividend date 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 (DPR) is presently 37.82%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QCOM shares. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

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.