Sierra Ocean LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sierra Ocean LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,018 shares of the wireless technology company’s stock, valued at approximately $156,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter valued at approximately $27,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.0 %

QCOM stock opened at $172.23 on Monday. The firm has a market cap of $190.49 billion, a PE ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The firm’s 50 day moving average price is $163.13 and its 200-day moving average price is $165.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QCOM. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. UBS Group upped their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Company 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.