Wakefield Asset Management LLLP Has $489,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wakefield Asset Management LLLP increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 47.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,181 shares of the wireless technology company’s stock after acquiring an additional 1,030 shares during the period. Wakefield Asset Management LLLP’s holdings in QUALCOMM were worth $489,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $29,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter worth $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 4.7 %

Shares of QUALCOMM stock opened at $154.44 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $170.81 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm has a 50-day simple moving average of $164.85 and a two-hundred day simple moving average of $165.68. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. UBS Group upped 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. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value 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 SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,708 shares of company stock worth $7,713,734. 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.