David Wealth Management LLC Takes $246,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

David Wealth Management LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,600 shares of the wireless technology company’s stock, valued at approximately $246,000.

A number of other large investors also recently added to or reduced their stakes in QCOM. Sather Financial Group Inc lifted its holdings in shares of QUALCOMM by 0.4% in the 4th quarter. Sather Financial Group Inc now owns 345,604 shares of the wireless technology company’s stock valued at $53,092,000 after purchasing an additional 1,460 shares during the last quarter. Warther Private Wealth LLC lifted its position in shares of QUALCOMM by 2,038.6% in the fourth quarter. Warther Private Wealth LLC now owns 57,273 shares of the wireless technology company’s stock valued at $8,798,000 after acquiring an additional 54,595 shares in the last quarter. Leavell Investment Management Inc. grew its stake in QUALCOMM by 3.7% in the 4th quarter. Leavell Investment Management Inc. now owns 24,086 shares of the wireless technology company’s stock worth $3,700,000 after acquiring an additional 857 shares during the period. Portfolio Design Labs LLC grew its holdings in QUALCOMM by 27.4% in the fourth quarter. Portfolio Design Labs LLC now owns 11,855 shares of the wireless technology company’s stock valued at $1,821,000 after purchasing an additional 2,553 shares during the period. Finally, New Republic Capital LLC raised its holdings in shares of QUALCOMM by 58.8% in the 4th quarter. New Republic Capital LLC now owns 2,464 shares of the wireless technology company’s stock worth $379,000 after purchasing an additional 912 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned 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 has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 0.4 %

Shares of NASDAQ QCOM opened at $171.99 on Wednesday. The stock has a market capitalization of $190.22 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $148.41 and a 1 year high of $230.63. The company has a 50-day moving average price of $162.31 and a 200-day moving average price of $165.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,268 shares of company stock valued at $7,276,381. Company insiders own 0.08% of the company’s stock.

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.