SOL Capital Management CO Raises Position in QUALCOMM Incorporated (NASDAQ:QCOM)

SOL Capital Management CO increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,330 shares of the wireless technology company’s stock after buying an additional 2,175 shares during the quarter. SOL Capital Management CO’s holdings in QUALCOMM were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. grew its stake in shares of QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after acquiring an additional 61 shares during the last quarter. Blossom Wealth Management boosted its stake in QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares in the last quarter. Delta Financial Advisors LLC grew its position in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after purchasing an additional 65 shares during the last quarter. Toth Financial Advisory Corp increased its stake in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC raised its holdings in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QCOM shares. Barclays dropped their price objective 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. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $206.57.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, 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 ownership of the stock. The sale 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 stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1 %

Shares of NASDAQ:QCOM opened at $171.93 on Friday. The business’s 50 day moving average price is $160.11 and its 200-day moving average price is $166.88. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The firm has a market capitalization of $191.01 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

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.