Forvis Mazars Wealth Advisors LLC Purchases 265 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Forvis Mazars Wealth Advisors LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,120 shares of the wireless technology company’s stock after purchasing an additional 265 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in QUALCOMM were worth $633,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in QCOM. GHP Investment Advisors Inc. grew its holdings in QUALCOMM by 15.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 769 shares of the wireless technology company’s stock valued at $131,000 after purchasing an additional 102 shares during the last quarter. Modera Wealth Management LLC grew its holdings in QUALCOMM by 1.0% during the 3rd quarter. Modera Wealth Management LLC now owns 17,679 shares of the wireless technology company’s stock valued at $3,006,000 after purchasing an additional 173 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in QUALCOMM by 14.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,262 shares of the wireless technology company’s stock valued at $2,425,000 after purchasing an additional 1,781 shares during the last quarter. FCG Investment Co bought a new position in QUALCOMM during the 3rd quarter valued at about $1,799,000. Finally, Gemmer Asset Management LLC boosted its position in QUALCOMM by 193.7% in the 3rd quarter. Gemmer Asset Management LLC now owns 11,840 shares of the wireless technology company’s stock valued at $2,013,000 after buying an additional 7,809 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This 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 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 2.6 %

Shares of QUALCOMM stock opened at $161.10 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a market capitalization of $178.18 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.01 and a beta of 1.25. The firm’s 50 day simple moving average is $164.52 and its two-hundred day simple moving average is $165.81.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s payout ratio is 36.32%.

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.