Ritholtz Wealth Management Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Ritholtz Wealth Management increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,147 shares of the wireless technology company’s stock after purchasing an additional 188 shares during the period. Ritholtz Wealth Management’s holdings in QUALCOMM were worth $2,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Certified Advisory Corp raised its position in shares of QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after purchasing an additional 79 shares during the period. Source Financial Advisors LLC grew its position in QUALCOMM by 2.2% in the 4th quarter. Source Financial Advisors LLC now owns 3,903 shares of the wireless technology company’s stock worth $564,000 after purchasing an additional 85 shares during the last quarter. MCF Advisors LLC grew its position in QUALCOMM by 1.6% in the 3rd quarter. MCF Advisors LLC now owns 5,891 shares of the wireless technology company’s stock worth $654,000 after purchasing an additional 90 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in shares of QUALCOMM by 0.5% in the fourth quarter. Chesley Taft & Associates LLC now owns 16,858 shares of the wireless technology company’s stock valued at $2,438,000 after purchasing an additional 90 shares during the period. Finally, Bangor Savings Bank raised its holdings in shares of QUALCOMM by 1.0% during the fourth quarter. Bangor Savings Bank now owns 9,366 shares of the wireless technology company’s stock valued at $1,355,000 after buying an additional 92 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 0.1 %

Shares of NASDAQ:QCOM traded up $0.17 during mid-day trading on Thursday, hitting $169.30. The stock had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. The company’s 50 day moving average is $157.64 and its 200-day moving average is $135.88. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market cap of $188.94 billion, a PE ratio of 24.54, a P/E/G ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. Piper Sandler increased their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, Barclays upped their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM 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.