Cambridge Financial Group Inc. Invests $6.29 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Financial Group Inc. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,960 shares of the wireless technology company’s stock, valued at approximately $6,292,000. QUALCOMM makes up 2.6% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 27th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $152.72 on Friday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a 50-day moving average price of $164.16 and a two-hundred day moving average price of $163.82. The company has a market capitalization of $168.91 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

QUALCOMM Company 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.