Howard Bailey Securities LLC Invests $240,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Howard Bailey Securities LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,561 shares of the wireless technology company’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the third quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $170.29 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $148.41 and a fifty-two week high of $230.63. The firm has a 50-day moving average of $162.50 and a 200 day moving average of $165.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The firm has a market cap of $188.34 billion, a P/E ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25.

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 net margin of 25.94% and a return on equity of 39.51%. On average, research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. QUALCOMM’s payout ratio is presently 36.32%.

Analysts Set New Price Targets

Several equities research analysts recently commented on QCOM shares. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One research 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 MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 in the last 90 days. Insiders own 0.08% of the company’s stock.

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.