Ibex Wealth Advisors Boosts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Ibex Wealth Advisors raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 408.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,176 shares of the wireless technology company’s stock after buying an additional 47,531 shares during the quarter. QUALCOMM comprises 1.1% of Ibex Wealth Advisors’ portfolio, making the stock its 25th biggest holding. Ibex Wealth Advisors’ holdings in QUALCOMM were worth $9,091,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter valued at $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter valued at about $27,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% in 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 bought a new stake in QUALCOMM in the third quarter worth about $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM during the third quarter valued at approximately $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $0.75 during trading on Wednesday, reaching $172.30. The stock had a trading volume of 1,075,906 shares, compared to its average volume of 7,307,465. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The stock has a market cap of $191.42 billion, a PE ratio of 19.18, a PEG ratio of 2.84 and a beta of 1.25. The business has a fifty day moving average price of $159.76 and a 200-day moving average price of $166.85.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results 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 during 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%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Finally, Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by insiders.

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.