Choreo LLC Has $1.20 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Choreo LLC boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 48.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,269 shares of the wireless technology company’s stock after buying an additional 2,707 shares during the period. Choreo LLC’s holdings in QUALCOMM were worth $1,196,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC lifted its holdings in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the period. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $29,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 in the last three months. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target for the company. KeyCorp increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Canaccord Genuity Group increased their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.68.

QUALCOMM Trading Down 2.0 %

QCOM opened at $165.85 on Wednesday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The stock has a market cap of $185.09 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $166.45 and a 200-day moving average of $145.75.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 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.