Avidian Wealth Enterprises LLC Acquires 351 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Avidian Wealth Enterprises LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,118 shares of the wireless technology company’s stock after buying an additional 351 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in QUALCOMM were worth $940,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Paulson Wealth Management Inc. grew its holdings 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 buying an additional 61 shares in the last quarter. Blossom Wealth Management grew its holdings in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC grew its holdings in shares of QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC grew its holdings in shares of QUALCOMM by 1.1% during 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 in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QCOM opened at $170.29 on Thursday. The business has a fifty day simple moving average of $162.50 and a 200 day simple moving average of $165.47. The company has a market capitalization of $188.34 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $148.41 and a 1 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 1.79.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,268 shares of company stock valued at $7,785,781 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QCOM. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price 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.