Millstone Evans Group LLC Buys Shares of 1,346 QUALCOMM Incorporated (NASDAQ:QCOM)

Millstone Evans Group LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,346 shares of the wireless technology company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth $29,000. Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter worth $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $156.82 on Friday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $173.44 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock’s 50-day moving average price is $164.51 and its 200-day moving average price is $163.98.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.