2,867 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Sovran Advisors LLC

Sovran Advisors LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,867 shares of the wireless technology company’s stock, valued at approximately $457,000.

Other institutional investors also recently made changes to their positions in the company. Paulson Wealth Management Inc. lifted its stake in shares of QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the last quarter. Blossom Wealth Management boosted its stake in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 64 shares during the period. Delta Financial Advisors LLC boosted its stake in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. CFS Investment Advisory Services LLC lifted its holdings in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after buying an additional 65 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 1.0 %

Shares of QCOM stock opened at $170.29 on Thursday. The firm has a fifty day moving average of $162.50 and a 200-day moving average of $165.47. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $148.41 and a 12-month high of $230.63. The company has a market capitalization of $188.34 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued 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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal 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 given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QCOM. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.