Oregon Pacific Wealth Management LLC Takes $338,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Oregon Pacific Wealth Management LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,201 shares of the wireless technology company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Planning Capital Management Corp raised its position 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 worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.93 on Monday. The stock has a 50-day simple moving average of $160.76 and a two-hundred day simple moving average of $166.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The firm has a market capitalization of $192.13 billion, a PE ratio of 19.24, a P/E/G ratio of 2.87 and a beta of 1.25.

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

QUALCOMM Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s payout ratio is presently 37.82%.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock worth $4,000,870 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.