Wealth Advisors Inc. Buys New Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Wealth Advisors Inc. bought a new stake in QUALCOMM, Inc. (NASDAQ:QCOM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,935 shares of the wireless technology company’s stock, valued at approximately $258,000.

Other institutional investors have also recently modified their holdings of the company. TFG Advisers LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $630,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in QUALCOMM by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 235,912 shares of the wireless technology company’s stock valued at $20,837,000 after purchasing an additional 23,848 shares during the last quarter. Franklin Resources Inc. boosted its stake in QUALCOMM by 77.9% during the 4th quarter. Franklin Resources Inc. now owns 302,088 shares of the wireless technology company’s stock valued at $26,654,000 after purchasing an additional 132,272 shares during the last quarter. RNC Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $4,067,000. Finally, Tandem Capital Management Corp ADV acquired a new position in QUALCOMM during the 4th quarter valued at about $2,200,000. 77.13% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Alexander H. Rogers sold 735 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total value of $70,096.95. Following the transaction, the executive vice president now owns 14,247 shares of the company’s stock, valued at $1,358,736.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,590 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $94.00, for a total transaction of $337,460.00. Following the completion of the transaction, the chief financial officer now directly owns 15,428 shares in the company, valued at approximately $1,450,232. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,562 shares of company stock worth $873,650. Insiders own 0.12% of the company’s stock.

A number of research firms have issued reports on QCOM. Mizuho reiterated a “buy” rating and set a $100.00 price target on shares of QUALCOMM in a research note on Wednesday, February 5th. UBS Group boosted their target price on QUALCOMM from $87.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Susquehanna Bancshares boosted their target price on QUALCOMM from $102.00 to $105.00 and gave the stock a “positive” rating in a research note on Tuesday, January 28th. Citigroup cut their target price on QUALCOMM from $108.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Goldman Sachs Group cut their target price on QUALCOMM from to in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. QUALCOMM currently has a consensus rating of “Buy” and an average price target of $90.49.

QCOM stock traded down $1.25 during midday trading on Tuesday, reaching $67.78. 6,722,901 shares of the company’s stock traded hands, compared to its average volume of 14,950,853. The company has a 50-day moving average price of $77.71 and a two-hundred day moving average price of $82.79. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.61 and a current ratio of 1.76. QUALCOMM, Inc. has a 52 week low of $55.78 and a 52 week high of $96.17. The firm has a market capitalization of $76.12 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.45.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. QUALCOMM had a net margin of 17.31% and a return on equity of 66.54%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts predict that QUALCOMM, Inc. will post 3.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 5th were issued a $0.62 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $2.48 annualized dividend and a dividend yield of 3.66%. QUALCOMM’s payout ratio is currently 87.32%.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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