Triangle Securities Wealth Management Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Triangle Securities Wealth Management lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,214 shares of the wireless technology company’s stock after purchasing an additional 499 shares during the quarter. Triangle Securities Wealth Management’s holdings in QUALCOMM were worth $463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreFirst Bank & Trust grew its stake in shares of QUALCOMM by 103.1% during the 2nd quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. IAG Wealth Partners LLC grew its stake in shares of QUALCOMM by 62.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 86 shares during the period. Sycomore Asset Management grew its stake in shares of QUALCOMM by 150.0% during the 4th quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Syverson Strege & Co grew its stake in shares of QUALCOMM by 124.3% during the 2nd quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Finally, Glassy Mountain Advisors Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth $28,000. 70.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on QCOM shares. Wells Fargo & Company upped their price target on shares of QUALCOMM from $105.00 to $130.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. Evercore ISI set a $120.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 23rd. Barclays raised shares of QUALCOMM from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $120.00 to $150.00 in a research note on Monday, January 23rd. Raymond James initiated coverage on shares of QUALCOMM in a research note on Wednesday, March 1st. They issued a “market perform” rating on the stock. Finally, Susquehanna raised shares of QUALCOMM from a “neutral” rating to a “positive” rating and increased their price objective for the company from $130.00 to $140.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.48.

Insider Activity at QUALCOMM

In related news, Director Jeffrey William Henderson sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total value of $310,125.00. Following the transaction, the director now owns 4,605 shares in the company, valued at $571,250.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Alexander H. Rogers sold 27,626 shares of QUALCOMM stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the sale, the insider now owns 23,637 shares in the company, valued at $3,107,792.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total transaction of $310,125.00. Following the sale, the director now owns 4,605 shares in the company, valued at approximately $571,250.25. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

QUALCOMM Trading Up 0.2 %

Shares of QCOM stock opened at $120.73 on Friday. QUALCOMM Incorporated has a 1-year low of $101.93 and a 1-year high of $161.30. The firm’s 50-day simple moving average is $125.43 and its 200-day simple moving average is $121.05. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.09 and a quick ratio of 1.41. The firm has a market cap of $134.61 billion, a P/E ratio of 11.63, a PEG ratio of 0.94 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The wireless technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.35 by $0.02. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $2.96 earnings per share. QUALCOMM’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM Incorporated will post 8.21 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 annualized dividend and a yield of 2.48%. QUALCOMM’s payout ratio is 28.90%.

QUALCOMM Company Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.