Onyx Bridge Wealth Group LLC Has $377,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Onyx Bridge Wealth Group LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,604 shares of the wireless technology company’s stock after purchasing an additional 754 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in QUALCOMM were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $320,000. Greenleaf Trust raised its position in QUALCOMM by 1.3% in the 4th quarter. Greenleaf Trust now owns 33,692 shares of the wireless technology company’s stock valued at $4,873,000 after buying an additional 441 shares during the last quarter. Martin Capital Advisors LLP raised its position in QUALCOMM by 5.0% in the 4th quarter. Martin Capital Advisors LLP now owns 3,483 shares of the wireless technology company’s stock valued at $504,000 after buying an additional 165 shares during the last quarter. Beaumont Financial Advisors LLC raised its position in QUALCOMM by 3.3% in the 4th quarter. Beaumont Financial Advisors LLC now owns 8,523 shares of the wireless technology company’s stock valued at $1,233,000 after buying an additional 276 shares during the last quarter. Finally, Davidson Trust Co. raised its position in QUALCOMM by 8.2% in the 4th quarter. Davidson Trust Co. now owns 5,562 shares of the wireless technology company’s stock valued at $804,000 after buying an additional 423 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Mizuho raised their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays lifted their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,260 shares of company stock valued at $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $3.81 during midday trading on Friday, hitting $157.63. The company had a trading volume of 10,292,182 shares, compared to its average volume of 6,247,785. The company has a market capitalization of $175.92 billion, a PE ratio of 22.84, a P/E/G ratio of 2.20 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $164.87 and a 200-day moving average price of $142.66. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

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.