Wilsey Asset Management Inc. Purchases Shares of 2,943 QUALCOMM Incorporated (NASDAQ:QCOM)

Wilsey Asset Management Inc. acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,943 shares of the wireless technology company’s stock, valued at approximately $452,000. QUALCOMM accounts for about 0.1% of Wilsey Asset Management Inc.’s holdings, making the stock its 20th biggest position.

Other large investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% in the third 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 last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock valued at $4,000,870 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on QCOM. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Morgan Stanley lowered their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Evercore ISI cut their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $167.96 on Monday. The firm has a market cap of $185.76 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.80 and a beta of 1.25. The company has a 50-day simple moving average of $162.15 and a two-hundred day simple moving average of $165.66. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $146.29 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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, equities analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio 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.