Raymond James Financial Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Raymond James Financial Inc. purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,430,887 shares of the wireless technology company’s stock, valued at approximately $527,053,000. Raymond James Financial Inc. owned about 0.31% of QUALCOMM at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter worth $29,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on QCOM shares. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. 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. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Up 2.6 %

QCOM opened at $158.49 on Thursday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month 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 company has a 50-day moving average price of $164.73 and a 200 day moving average price of $165.29. The company has a market cap of $175.29 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

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 the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock worth $7,752,423 in the last 90 days. Insiders own 0.08% of the company’s stock.

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.