Strategic Financial Concepts LLC Grows Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Financial Concepts LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15,753.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 541,381 shares of the wireless technology company’s stock after buying an additional 537,966 shares during the quarter. Strategic Financial Concepts LLC’s holdings in QUALCOMM were worth $83,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Brookstone Capital Management boosted its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock worth $4,957,000 after buying an additional 991 shares during the last quarter. CWM LLC raised its position in QUALCOMM by 2.7% in the third quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock worth $21,156,000 after acquiring an additional 3,264 shares during the period. Marcum Wealth LLC boosted its stake in QUALCOMM by 8.6% in the third quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 200 shares during the last quarter. Wedmont Private Capital grew its position in shares of QUALCOMM by 7.2% during the 3rd quarter. Wedmont Private Capital now owns 10,946 shares of the wireless technology company’s stock valued at $1,827,000 after acquiring an additional 738 shares during the period. Finally, Patten Group Inc. increased its stake in shares of QUALCOMM by 3.1% during the 3rd quarter. Patten Group Inc. now owns 14,172 shares of the wireless technology company’s stock worth $2,410,000 after purchasing an additional 424 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on QCOM shares. 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. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday. Finally, Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 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 Stock Down 3.7 %

QCOM opened at $169.32 on Friday. The business’s fifty day simple moving average is $161.70 and its 200 day simple moving average is $166.02. QUALCOMM Incorporated has a 52 week low of $143.63 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market cap of $188.11 billion, a PE ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued 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 2.01%. QUALCOMM’s payout ratio is 37.82%.

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.