Benedict Financial Advisors Inc. Has $6.38 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Benedict Financial Advisors Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 41,549 shares of the wireless technology company’s stock after selling 424 shares during the quarter. QUALCOMM makes up 1.5% of Benedict Financial Advisors Inc.’s holdings, making the stock its 17th largest holding. Benedict Financial Advisors Inc.’s holdings in QUALCOMM were worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of QCOM. Contravisory Investment Management Inc. increased its stake in shares of QUALCOMM by 14,458.8% during the 3rd quarter. Contravisory Investment Management Inc. now owns 2,475 shares of the wireless technology company’s stock worth $421,000 after purchasing an additional 2,458 shares during the last quarter. Independence Bank of Kentucky increased its position in QUALCOMM by 58.8% during the third quarter. Independence Bank of Kentucky now owns 3,578 shares of the wireless technology company’s stock worth $608,000 after buying an additional 1,325 shares during the last quarter. LVW Advisors LLC raised its stake in QUALCOMM by 9.7% in the third quarter. LVW Advisors LLC now owns 2,592 shares of the wireless technology company’s stock valued at $441,000 after buying an additional 230 shares during the period. Fermata Advisors LLC lifted its position in shares of QUALCOMM by 21.6% in the third quarter. Fermata Advisors LLC now owns 1,583 shares of the wireless technology company’s stock valued at $269,000 after buying an additional 281 shares during the last quarter. Finally, Maj Invest Holding A S bought a new position in shares of QUALCOMM during the 3rd quarter worth approximately $229,078,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Sanford C. Bernstein raised their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays lowered their price target 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. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday. Finally, UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’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 value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,981 shares of company stock valued at $4,000,870. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $167.96 on Friday. The firm has a market capitalization 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 current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $162.15 and its 200-day moving average price is $165.86. QUALCOMM Incorporated has a 12 month low of $146.29 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.