2,753 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Purchased by Garrett Wealth Advisory Group LLC

Garrett Wealth Advisory Group LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, Holdings Channel reports. The firm bought 2,753 shares of the wireless technology company’s stock, valued at approximately $423,000.

Several other institutional investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC boosted its stake in shares of QUALCOMM by 5.1% in the fourth quarter. Fidelis Capital Partners LLC now owns 21,229 shares of the wireless technology company’s stock valued at $3,614,000 after purchasing an additional 1,028 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in QUALCOMM by 18.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 4,052 shares of the wireless technology company’s stock worth $622,000 after buying an additional 624 shares in the last quarter. LGT Group Foundation boosted its position in QUALCOMM by 22.0% in the 4th quarter. LGT Group Foundation now owns 53,815 shares of the wireless technology company’s stock valued at $8,267,000 after buying an additional 9,692 shares during the period. Plato Investment Management Ltd boosted its position in QUALCOMM by 30.2% in the 4th quarter. Plato Investment Management Ltd now owns 48,160 shares of the wireless technology company’s stock valued at $7,425,000 after buying an additional 11,162 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of QUALCOMM in the fourth quarter worth $3,405,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on QCOM shares. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Up 1.8 %

NASDAQ:QCOM opened at $157.18 on Monday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $164.94 and its 200-day simple moving average is $165.61. The firm has a market cap of $173.84 billion, a P/E ratio of 16.79, a PEG ratio of 2.01 and a beta of 1.25.

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

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % 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, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock valued at $7,713,734 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.