QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Prentice Wealth Management LLC

Prentice Wealth Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,993 shares of the wireless technology company’s stock after acquiring an additional 234 shares during the quarter. Prentice Wealth Management LLC’s holdings in QUALCOMM were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp raised its position in 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 acquiring an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $165.43 on Friday. The company has a market cap of $182.97 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.01 and a beta of 1.25. The business has a fifty day simple moving average of $164.46 and a 200-day simple moving average of $165.72. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week 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.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 in the last quarter. 0.08% of the stock is owned by insiders.

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.