SPC Financial Inc. Invests $354,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

SPC Financial Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,305 shares of the wireless technology company’s stock, valued at approximately $354,000.

A number of other large investors have also recently made changes to their positions in the company. Assetmark Inc. increased its stake in shares of QUALCOMM by 106.9% during the fourth quarter. Assetmark Inc. now owns 565,375 shares of the wireless technology company’s stock worth $86,853,000 after buying an additional 292,174 shares during the period. J.Safra Asset Management Corp increased its stake in shares of QUALCOMM by 78.1% during the fourth quarter. J.Safra Asset Management Corp now owns 2,127 shares of the wireless technology company’s stock worth $329,000 after buying an additional 933 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $647,000. Triad Wealth Partners LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $515,000. Finally, Victory Capital Management Inc. increased its stake in shares of QUALCOMM by 10.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,083,403 shares of the wireless technology company’s stock worth $320,052,000 after buying an additional 197,189 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Finally, UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.49 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a fifty day moving average price of $164.73 and a 200 day moving average price of $165.29. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a market cap of $175.29 billion, a PE ratio of 16.93, a P/E/G ratio of 2.01 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 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

About QUALCOMM

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.