Consolidated Planning Corp Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Consolidated Planning Corp raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,187 shares of the wireless technology company’s stock after purchasing an additional 596 shares during the period. Consolidated Planning Corp’s holdings in QUALCOMM were worth $950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $2,058,000. Burney Co. lifted its stake in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after buying an additional 18,315 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock worth $7,785,781 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Loop Capital assumed coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Down 1.0 %

QUALCOMM stock opened at $170.29 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The firm has a market capitalization of $188.34 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $148.41 and a fifty-two week high of $230.63. The stock’s fifty day moving average is $162.50 and its two-hundred day moving average is $165.47.

QUALCOMM (NASDAQ:QCOM) last posted its 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 net margin of 25.94% and a return on equity of 39.51%. Analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.