Carmel Capital Partners LLC Purchases 1,064 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Carmel Capital Partners LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm owned 16,378 shares of the wireless technology company’s stock after acquiring an additional 1,064 shares during the period. QUALCOMM comprises about 1.0% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 15th largest holding. Carmel Capital Partners LLC’s holdings in QUALCOMM were worth $2,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $29,000. Planning Capital Management Corp raised its position in shares of 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 acquiring an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on QCOM shares. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $158.49 on Thursday. The stock has a market capitalization of $175.29 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $164.73 and a 200 day moving average of $165.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm 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 $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 yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

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.