RBA Wealth Management LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

RBA Wealth Management LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,106 shares of the wireless technology company’s stock after buying an additional 506 shares during the period. QUALCOMM accounts for about 1.8% of RBA Wealth Management LLC’s holdings, making the stock its 26th largest holding. RBA Wealth Management LLC’s holdings in QUALCOMM were worth $4,625,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $27,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $170.24 on Tuesday. The firm’s 50 day moving average price is $160.76 and its 200-day moving average price is $166.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a one year low of $141.21 and a one year high of $230.63. The firm has a market cap of $189.14 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. 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 presently 37.82%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is owned by corporate 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.