Centricity Wealth Management LLC Invests $29,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Centricity Wealth Management LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 186 shares of the wireless technology company’s stock, valued at approximately $29,000.

A number of other institutional investors have also modified their holdings of the company. Legacy Capital Group California Inc. lifted its position in QUALCOMM by 3.5% during the fourth quarter. Legacy Capital Group California Inc. now owns 9,523 shares of the wireless technology company’s stock valued at $1,463,000 after buying an additional 318 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of QUALCOMM by 9.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 46,363 shares of the wireless technology company’s stock valued at $7,122,000 after acquiring an additional 4,013 shares during the period. Handelsbanken Fonder AB raised its stake in shares of QUALCOMM by 13.8% in the 4th quarter. Handelsbanken Fonder AB now owns 498,896 shares of the wireless technology company’s stock valued at $76,640,000 after acquiring an additional 60,558 shares during the period. Private Wealth Partners LLC lifted its holdings in shares of QUALCOMM by 1.0% during the 4th quarter. Private Wealth Partners LLC now owns 115,591 shares of the wireless technology company’s stock valued at $17,757,000 after acquiring an additional 1,199 shares in the last quarter. Finally, TBH Global Asset Management LLC boosted its position in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock valued at $7,713,734 over the last quarter. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set 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 issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $165.43 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.03 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The business has a 50 day simple moving average of $164.46 and a 200-day simple moving average of $165.72.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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 expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid 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 2.06%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

QUALCOMM Company 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.