Millstone Evans Group LLC Purchases Shares of 1,346 QUALCOMM Incorporated (NASDAQ:QCOM)

Millstone Evans Group LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,346 shares of the wireless technology company’s stock, valued at approximately $207,000.

Other hedge funds have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC boosted its stake in shares of QUALCOMM by 0.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 17,112 shares of the wireless technology company’s stock worth $2,910,000 after acquiring an additional 150 shares during the period. Meridian Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter worth about $1,617,000. GenTrust LLC boosted its stake in shares of QUALCOMM by 128.2% in the third quarter. GenTrust LLC now owns 2,396 shares of the wireless technology company’s stock worth $407,000 after acquiring an additional 1,346 shares during the period. Nicolet Advisory Services LLC boosted its stake in shares of QUALCOMM by 20.0% in the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock worth $287,000 after acquiring an additional 283 shares during the period. Finally, Certified Advisory Corp boosted its stake in shares of QUALCOMM by 8.5% in the third quarter. Certified Advisory Corp now owns 10,023 shares of the wireless technology company’s stock worth $1,704,000 after acquiring an additional 787 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Down 0.7 %

Shares of NASDAQ QCOM opened at $156.82 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s 50 day moving average price is $164.51 and its 200-day moving average price is $163.98. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

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.