Orca Wealth Management LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Orca Wealth Management LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 33,449 shares of the wireless technology company’s stock, valued at approximately $5,138,000. QUALCOMM makes up approximately 4.6% of Orca Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors also recently bought and sold shares of QCOM. Nordea Investment Management AB increased its stake in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after acquiring an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $2,058,000. Burney Co. increased its stake in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the last quarter. Finally, Icon Wealth Advisors LLC boosted its position in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after buying an additional 18,315 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.19 on Wednesday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $190.19 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 2.84 and a beta of 1.25. The stock’s fifty day simple moving average is $159.63 and its 200-day simple moving average is $167.07.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 dividend on an annualized basis and a yield of 1.99%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QCOM shares. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Finally, Sanford C. Bernstein increased their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

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.