David Wealth Management LLC Acquires Shares of 1,600 QUALCOMM Incorporated (NASDAQ:QCOM)

David Wealth Management LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,600 shares of the wireless technology company’s stock, valued at approximately $246,000.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Alliance LLC grew its holdings in QUALCOMM by 34.9% during the third quarter. Fiduciary Alliance LLC now owns 4,216 shares of the wireless technology company’s stock worth $717,000 after acquiring an additional 1,091 shares during the period. Harrington Investments INC grew its position in QUALCOMM by 0.6% in the third quarter. Harrington Investments INC now owns 22,638 shares of the wireless technology company’s stock worth $3,850,000 after acquiring an additional 130 shares during the period. CX Institutional lifted its position in QUALCOMM by 334.2% in the third quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock valued at $4,244,000 after buying an additional 19,212 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of QUALCOMM by 0.7% during the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after buying an additional 88 shares during the period. Finally, Creative Planning grew its holdings in shares of QUALCOMM by 0.5% in the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock valued at $68,147,000 after purchasing an additional 2,086 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $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 44,268 shares of company stock worth $7,276,381 in the last ninety days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of analyst reports. Susquehanna reduced their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Finally, Barclays decreased 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 investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

QCOM stock opened at $171.99 on Wednesday. The firm has a market cap of $190.22 billion, a PE ratio of 18.38, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $148.41 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average of $162.31 and a 200-day moving average of $165.53.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared 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 is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s payout ratio is 36.32%.

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.