QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 18,411 shares of the wireless technology company’s stock after acquiring an additional 391 shares during the period. Jacobi Capital Management LLC’s holdings in QUALCOMM were worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at $29,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

QCOM has been the subject of several analyst reports. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Mizuho reduced their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

QCOM stock opened at $157.18 on Friday. 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 firm has a 50 day moving average of $164.94 and a two-hundred day moving average of $165.64. The company has a market capitalization of $173.84 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 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.