Golden State Wealth Management LLC Invests $549,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Golden State Wealth Management LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,572 shares of the wireless technology company’s stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group acquired a new position in QUALCOMM during the fourth quarter valued at $27,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter worth about $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock valued at $4,000,870 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.8 %

QCOM opened at $167.96 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The company’s 50 day simple moving average is $161.96 and its two-hundred day simple moving average is $166.04. The firm has a market capitalization of $186.60 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $146.29 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts expect that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed 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. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analyst Weigh In

Several research firms recently commented on QCOM. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday. Finally, Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.