QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Sharp Financial Services LLC

Sharp Financial Services LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,097 shares of the wireless technology company’s stock after purchasing an additional 638 shares during the quarter. QUALCOMM comprises about 0.7% of Sharp Financial Services LLC’s investment portfolio, making the stock its 27th largest position. Sharp Financial Services LLC’s holdings in QUALCOMM were worth $937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at approximately $30,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $170.24 on Thursday. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The stock has a fifty day moving average of $158.86 and a 200-day moving average of $168.02. The company has a market capitalization of $189.14 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued 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 2.00%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QCOM shares. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Evercore ISI increased their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Susquehanna decreased their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

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.