Trek Financial LLC Buys 2,150 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Trek Financial LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 57.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,878 shares of the wireless technology company’s stock after acquiring an additional 2,150 shares during the quarter. Trek Financial LLC’s holdings in QUALCOMM were worth $903,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 8.6 %

QCOM opened at $127.46 on Monday. QUALCOMM Incorporated has a 52 week low of $123.11 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $161.74 and a two-hundred day simple moving average of $163.05. The company has a market capitalization of $140.97 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. Analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. QUALCOMM’s dividend payout ratio (DPR) is presently 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.