Welch Group LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Welch Group LLC raised its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 351,061 shares of the wireless technology company’s stock after acquiring an additional 4,613 shares during the period. QUALCOMM makes up 2.4% of Welch Group LLC’s investment portfolio, making the stock its 20th biggest holding. Welch Group LLC’s holdings in QUALCOMM were worth $54,267,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’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 value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock valued at $4,000,870 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock opened at $170.24 on Tuesday. The company has a 50-day simple moving average of $160.76 and a 200 day simple moving average of $166.19. The company has a market capitalization 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 quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a fifty-two week low of $141.21 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI lifted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Company 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.