Broadway Wealth Solutions Inc. Makes New $213,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Broadway Wealth Solutions Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,389 shares of the wireless technology company’s stock, valued at approximately $213,000.

A number of other large investors have also recently made changes to their positions in QCOM. Vanguard Group Inc. raised its stake in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. State Street Corp increased its position in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its holdings in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Norges Bank purchased a new position in QUALCOMM in the fourth quarter worth about $2,721,882,000. Finally, Amundi grew its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $157.97 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market capitalization of $174.71 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company’s 50-day moving average is $164.40 and its 200 day moving average is $163.88.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Mizuho decreased 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. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.