Trueblood Wealth Management LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Trueblood Wealth Management LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,817 shares of the wireless technology company’s stock after buying an additional 141 shares during the quarter. QUALCOMM comprises 0.8% of Trueblood Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Trueblood Wealth Management LLC’s holdings in QUALCOMM were worth $1,662,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 11.6% during the 2nd quarter. Pacer Advisors Inc. now owns 177,040 shares of the wireless technology company’s stock worth $35,263,000 after acquiring an additional 18,379 shares during the last quarter. Kowal Investment Group LLC lifted its stake in shares of QUALCOMM by 31.4% during the 2nd quarter. Kowal Investment Group LLC now owns 5,002 shares of the wireless technology company’s stock worth $996,000 after acquiring an additional 1,195 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of QUALCOMM by 6.3% during the 2nd quarter. Profund Advisors LLC now owns 182,012 shares of the wireless technology company’s stock worth $36,253,000 after acquiring an additional 10,807 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of QUALCOMM by 86.7% during the 2nd quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock worth $545,575,000 after acquiring an additional 1,272,191 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of QUALCOMM by 4,438.9% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 21,923 shares of the wireless technology company’s stock worth $4,367,000 after acquiring an additional 21,440 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Price Performance

QCOM stock opened at $164.56 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50 day simple moving average of $158.85 and a 200-day simple moving average of $168.82. The firm has a market capitalization of $182.83 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

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.