Crown Wealth Group LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Crown Wealth Group LLC boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,347 shares of the wireless technology company’s stock after buying an additional 74 shares during the quarter. Crown Wealth Group LLC’s holdings in QUALCOMM were worth $207,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $29,000. Planning Capital Management Corp lifted its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock valued at $7,713,734 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.5 %

QCOM opened at $162.10 on Thursday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business has a 50 day simple moving average of $164.77 and a two-hundred day simple moving average of $165.76. The firm has a market capitalization of $179.28 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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 predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Ratings Changes

Several analysts have issued reports on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One 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 company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target 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.