Essential Planning LLC. Takes $3.78 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Essential Planning LLC. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 23,075 shares of the wireless technology company’s stock, valued at approximately $3,780,000.

Other hedge funds have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter worth $29,000. 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 worth $34,000 after purchasing an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter worth $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Susquehanna cut their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Down 0.2 %

Shares of QCOM opened at $152.80 on Thursday. 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 1-year low of $149.43 and a 1-year high of $230.63. The business’s 50-day moving average price is $164.74 and its 200 day moving average price is $164.70. The stock has a market capitalization of $169.00 billion, a P/E ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28.

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 net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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 issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,555 shares of company stock worth $5,094,134. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.