Masso Torrence Wealth Management Inc. Acquires 730 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Masso Torrence Wealth Management Inc. increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,701 shares of the wireless technology company’s stock after acquiring an additional 730 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in QUALCOMM were worth $969,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its holdings in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. Legacy Financial Group LLC purchased a new position in QUALCOMM during the 3rd quarter valued at $29,000. Fortitude Family Office LLC purchased a new position in QUALCOMM during the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC grew its position in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its position in shares of QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after buying an additional 163,963 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Cantor Fitzgerald upped their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Price Performance

QUALCOMM stock traded up $1.33 during mid-day trading on Tuesday, hitting $161.51. The stock had a trading volume of 3,698,097 shares, compared to its average volume of 8,560,628. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $180.25 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The firm’s 50 day moving average is $165.01 and its 200 day moving average is $143.47.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

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.