Coastwise Capital Group LLC Purchases 736 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Coastwise Capital Group LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,036 shares of the wireless technology company’s stock after acquiring an additional 736 shares during the quarter. Coastwise Capital Group LLC’s holdings in QUALCOMM were worth $1,081,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 61 shares during the last quarter. Blossom Wealth Management raised its stake in QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC lifted its holdings in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC increased its holdings in shares of 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 during the last quarter. Finally, Toth Financial Advisory Corp raised its position in shares of QUALCOMM by 3.1% during 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 in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI lifted their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Check Out Our Latest Report on QCOM

QUALCOMM Stock Performance

Shares of QCOM opened at $171.93 on Friday. The company has a market capitalization of $191.01 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.85 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 Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company’s 50 day simple moving average is $160.11 and its 200 day simple moving average is $166.88.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 yield of 1.98%. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

About QUALCOMM

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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