Hopwood Financial Services Inc. Invests $215,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Hopwood Financial Services Inc. bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,400 shares of the wireless technology company’s stock, valued at approximately $215,000.

Several other large investors have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth $29,000. Planning Capital Management Corp raised its holdings 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 acquiring an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the 4th quarter valued at about $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,955 shares of company stock valued at $4,847,350. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $153.10 on Wednesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a market capitalization of $169.33 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.01 and a beta of 1.28. The company’s 50 day simple moving average is $164.76 and its 200 day simple moving average is $164.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results 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%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.22%. QUALCOMM’s payout ratio is 36.32%.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.