Precedent Wealth Partners LLC Purchases 247 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Precedent Wealth Partners LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the 4th quarter, Holdings Channel reports. The fund owned 8,389 shares of the wireless technology company’s stock after buying an additional 247 shares during the period. Precedent Wealth Partners LLC’s holdings in QUALCOMM were worth $1,289,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in QCOM. AlphaMark Advisors LLC bought a new stake in QUALCOMM during the 4th quarter valued at $86,000. Insight Inv LLC increased its position in shares of QUALCOMM by 4.6% during the fourth quarter. Insight Inv LLC now owns 17,179 shares of the wireless technology company’s stock worth $2,639,000 after acquiring an additional 758 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Grimes & Company Inc. boosted its stake in QUALCOMM by 2.0% during the 4th quarter. Grimes & Company Inc. now owns 168,940 shares of the wireless technology company’s stock valued at $25,953,000 after purchasing an additional 3,274 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.3 %

QCOM stock opened at $172.11 on Friday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The firm has a market capitalization of $191.21 billion, a PE ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $159.49 and a two-hundred day simple moving average of $167.83.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on QCOM. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein upped their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently 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.