QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,346 shares of the wireless technology company’s stock after buying an additional 4,604 shares during the period. QUALCOMM accounts for approximately 4.1% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 4th biggest holding. Townsend Asset Management Corp NC ADV’s holdings in QUALCOMM were worth $11,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $29,000. Planning Capital Management Corp increased its holdings in shares of 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 period. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on QCOM shares. Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 2.6 %

Shares of QCOM opened at $158.49 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a market capitalization of $175.29 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The stock has a fifty day moving average of $164.73 and a two-hundred day moving average of $165.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts forecast 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. 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 2.15%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 over the last quarter. Company insiders own 0.08% of the company’s stock.

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.