NewEdge Wealth LLC Acquires 1,188 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

NewEdge Wealth LLC raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,836 shares of the wireless technology company’s stock after buying an additional 1,188 shares during the period. NewEdge Wealth LLC’s holdings in QUALCOMM were worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in QCOM. Strategic Blueprint LLC lifted its position in shares of QUALCOMM by 14.8% during the third quarter. Strategic Blueprint LLC now owns 5,032 shares of the wireless technology company’s stock valued at $856,000 after purchasing an additional 647 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of QUALCOMM by 3.0% during the third quarter. Financial Advocates Investment Management now owns 9,996 shares of the wireless technology company’s stock valued at $1,700,000 after purchasing an additional 289 shares in the last quarter. HM Payson & Co. lifted its position in shares of QUALCOMM by 3.5% during the third quarter. HM Payson & Co. now owns 6,875 shares of the wireless technology company’s stock valued at $1,169,000 after purchasing an additional 230 shares in the last quarter. Nikulski Financial Inc. lifted its position in shares of QUALCOMM by 5.0% during the third quarter. Nikulski Financial Inc. now owns 1,819 shares of the wireless technology company’s stock valued at $309,000 after purchasing an additional 86 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its position in shares of QUALCOMM by 14.2% during the third quarter. AustralianSuper Pty Ltd now owns 15,409 shares of the wireless technology company’s stock valued at $2,620,000 after purchasing an additional 1,914 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were 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 of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Susquehanna decreased their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $154.44 on Friday. The firm has a 50 day moving average of $164.85 and a 200-day moving average of $165.68. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm has a market capitalization 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.

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

QUALCOMM Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

About QUALCOMM

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.