Western Wealth Management LLC Purchases 350 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Western Wealth Management LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,391 shares of the wireless technology company’s stock after buying an additional 350 shares during the period. Western Wealth Management LLC’s holdings in QUALCOMM were worth $4,974,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Xponance Inc. grew its stake in QUALCOMM by 1.6% during the fourth quarter. Xponance Inc. now owns 272,725 shares of the wireless technology company’s stock valued at $39,444,000 after acquiring an additional 4,294 shares in the last quarter. AIA Group Ltd lifted its position in QUALCOMM by 290.9% during the fourth quarter. AIA Group Ltd now owns 21,525 shares of the wireless technology company’s stock valued at $3,113,000 after purchasing an additional 16,018 shares during the last quarter. Integral Investment Advisors Inc. lifted its position in QUALCOMM by 3.0% during the fourth quarter. Integral Investment Advisors Inc. now owns 5,036 shares of the wireless technology company’s stock valued at $728,000 after purchasing an additional 149 shares during the last quarter. Cambridge Trust Co. lifted its position in QUALCOMM by 59.8% during the fourth quarter. Cambridge Trust Co. now owns 10,735 shares of the wireless technology company’s stock valued at $1,553,000 after purchasing an additional 4,016 shares during the last quarter. Finally, Smead Capital Management Inc. lifted its position in QUALCOMM by 0.7% during the fourth quarter. Smead Capital Management Inc. now owns 747,576 shares of the wireless technology company’s stock valued at $108,122,000 after purchasing an additional 5,230 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on QCOM. Barclays lifted their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday. They issued an “in-line” rating and a $177.00 price objective for the company. Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Cantor Fitzgerald boosted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.90.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 44,360 shares of company stock valued at $7,184,678 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 1.8 %

QUALCOMM stock traded down $2.88 during mid-day trading on Thursday, reaching $161.44. 9,205,438 shares of the company traded hands, compared to its average volume of 8,615,317. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm’s 50 day moving average price is $164.47 and its 200 day moving average price is $142.20. The firm has a market capitalization of $180.17 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.30 and a beta of 1.41. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.