RiverFront Investment Group LLC Buys 360 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

RiverFront Investment Group LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,526 shares of the wireless technology company’s stock after acquiring an additional 360 shares during the quarter. RiverFront Investment Group LLC’s holdings in QUALCOMM were worth $388,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 3.3 %

Shares of NASDAQ QCOM opened at $152.72 on Friday. The company has a market cap of $168.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a 50-day moving average price of $164.16 and a two-hundred day moving average price of $163.84.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by insiders.

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.