QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,671 shares of the wireless technology company’s stock after buying an additional 2,450 shares during the quarter. Spire Wealth Management’s holdings in QUALCOMM were worth $1,622,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Glass Jacobson Investment Advisors llc lifted its position in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares during the last quarter. Chilton Capital Management LLC raised its position in QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the last quarter. Means Investment CO. Inc. lifted its position in QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after buying an additional 71 shares in the last quarter. Marino Stram & Associates LLC boosted its position in QUALCOMM by 2.5% in the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after buying an additional 73 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its stake in shares of QUALCOMM by 6.1% during the fourth quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after buying an additional 79 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM opened at $177.46 on Wednesday. The firm has a 50 day moving average of $168.62 and a two-hundred day moving average of $148.09. The firm has a market capitalization of $198.05 billion, a PE ratio of 24.21, a P/E/G ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $184.31.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.92%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated 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 directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,316 shares of company stock worth $7,796,128. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. HSBC increased their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Barclays lifted their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho raised their price objective on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Robert W. Baird lifted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.48.

QUALCOMM 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.