Princeton Global Asset Management LLC Buys 300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Princeton Global Asset Management LLC lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 96.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612 shares of the wireless technology company’s stock after acquiring an additional 300 shares during the period. Princeton Global Asset Management LLC’s holdings in QUALCOMM were worth $94,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter valued at about $27,000. Planning Capital Management Corp raised its position in 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 purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new stake in QUALCOMM during the third quarter valued at about $36,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $38,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Loop Capital assumed coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report 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 issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $170.24 on Tuesday. QUALCOMM Incorporated has a twelve month low of $141.21 and a twelve month high of $230.63. The firm has a market cap of $189.14 billion, a P/E ratio of 18.94, a PEG ratio of 2.87 and a beta of 1.25. The company has a 50 day moving average of $160.76 and a 200 day moving average of $166.19. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 9.16 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. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,981 shares of company stock worth $4,000,870. 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.