Bay Capital Advisors LLC Invests $233,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Bay Capital Advisors LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,515 shares of the wireless technology company’s stock, valued at approximately $233,000.

Several other hedge funds have also bought and sold shares of the stock. TBH Global Asset Management LLC grew its holdings in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc grew its holdings in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after purchasing an additional 64 shares in the last quarter. CFS Investment Advisory Services LLC raised its stake in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares in the last quarter. Toth Financial Advisory Corp grew its stake in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its holdings in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on QCOM. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. 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 report on Thursday, February 6th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value 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. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $160.08 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. The firm has a market cap of $177.05 billion, a PE ratio of 17.10, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a fifty day moving average price of $164.57 and a 200-day moving average price of $163.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s payout ratio is currently 36.32%.

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.