QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 254,048 shares of the wireless technology company’s stock after acquiring an additional 23,721 shares during the quarter. Sanctuary Advisors LLC’s holdings in QUALCOMM were worth $39,027,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new position in QUALCOMM during the third quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter worth about $27,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM during the third quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’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 transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,268 shares of company stock worth $7,785,781 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $172.23 on Monday. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63. The firm’s 50 day moving average price is $163.13 and its 200 day moving average price is $165.49. The company has a market cap of $190.49 billion, a P/E ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. 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 (NASDAQ:QCOM) last announced its 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, research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Evercore ISI reduced their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.32.

About QUALCOMM

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.