Pettyjohn Wood & White Inc. Has $371,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Pettyjohn Wood & White Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,415 shares of the wireless technology company’s stock after purchasing an additional 67 shares during the period. Pettyjohn Wood & White Inc.’s holdings in QUALCOMM were worth $371,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Argyle Capital Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $355,000. Wakefield Asset Management LLLP grew its position in QUALCOMM by 47.9% in the 4th quarter. Wakefield Asset Management LLLP now owns 3,181 shares of the wireless technology company’s stock worth $489,000 after purchasing an additional 1,030 shares in the last quarter. Fusion Capital LLC grew its holdings in shares of QUALCOMM by 12.5% in the fourth quarter. Fusion Capital LLC now owns 19,187 shares of the wireless technology company’s stock valued at $2,948,000 after acquiring an additional 2,137 shares in the last quarter. Fort Sheridan Advisors LLC increased its position in shares of QUALCOMM by 0.4% during the 4th quarter. Fort Sheridan Advisors LLC now owns 22,623 shares of the wireless technology company’s stock valued at $3,475,000 after purchasing an additional 100 shares during the last quarter. Finally, Schulhoff & Co. Inc. raised its position in QUALCOMM by 0.7% in the fourth quarter. Schulhoff & Co. Inc. now owns 14,862 shares of the wireless technology company’s stock worth $2,283,000 after acquiring an additional 99 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Barclays reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 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 report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $154.44 on Friday. The company has a market capitalization of $170.81 billion, a P/E ratio of 16.50, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a fifty day moving average of $164.85 and a 200-day moving average of $165.68.

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

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.20%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

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.