QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,310 shares of the wireless technology company’s stock after buying an additional 1,670 shares during the quarter. Confluence Wealth Services Inc.’s holdings in QUALCOMM were worth $1,277,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on QCOM shares. Sanford C. Bernstein raised their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Up 1.6 %

Shares of QUALCOMM stock opened at $173.04 on Wednesday. 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 12-month low of $141.21 and a 12-month high of $230.63. The firm has a market capitalization of $192.25 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The stock’s fifty day moving average is $161.31 and its 200-day moving average is $165.95.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,981 shares of company stock valued at $4,000,870. Corporate 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.