1,456 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Meriwether Wealth & Planning LLC

Meriwether Wealth & Planning LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,456 shares of the wireless technology company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter worth $29,000. Planning Capital Management Corp lifted its position in 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 stake in QUALCOMM during the 4th quarter worth about $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value 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. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock worth $7,752,423 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $161.22 on Monday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a 50 day moving average of $164.76 and a two-hundred day moving average of $165.03. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $178.31 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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 of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 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.