Cahaba Wealth Management Inc. Takes $200,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cahaba Wealth Management Inc. acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) in the 4th quarter, Holdings Channel.com reports. The firm acquired 1,386 shares of the wireless technology company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the period. State Street Corp increased its position in shares of QUALCOMM by 1.1% in the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock valued at $5,837,985,000 after buying an additional 549,861 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after buying an additional 24,566,978 shares during the last quarter. Morgan Stanley grew its stake in QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after acquiring an additional 3,929,586 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in QUALCOMM by 7.0% during the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock worth $2,147,831,000 after acquiring an additional 1,178,546 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,360 shares of company stock valued at $6,803,208. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.4 %

NASDAQ QCOM traded down $0.68 on Tuesday, hitting $171.04. 7,430,673 shares of the company were exchanged, compared to its average volume of 8,945,487. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company’s 50 day moving average price is $158.85 and its 200-day moving average price is $137.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market capitalization of $190.88 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.87%. QUALCOMM’s payout ratio is presently 46.38%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QCOM. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Monday, March 4th. Canaccord Genuity Group raised their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. Mizuho lifted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.71.

Read Our Latest Report on QUALCOMM

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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