SevenBridge Financial Group LLC Has $1.96 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SevenBridge Financial Group LLC increased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,785 shares of the wireless technology company’s stock after buying an additional 1,652 shares during the period. SevenBridge Financial Group LLC’s holdings in QUALCOMM were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the 4th quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM during the fourth quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on QCOM. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of QCOM opened at $153.05 on Wednesday. The stock has a market cap of $169.27 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $147.88 and a 1 year high of $230.63. The stock’s 50-day moving average price is $163.66 and its two-hundred day moving average price is $163.64. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio 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.