Keudell Morrison Wealth Management Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Keudell Morrison Wealth Management increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,662 shares of the wireless technology company’s stock after purchasing an additional 212 shares during the quarter. Keudell Morrison Wealth Management’s holdings in QUALCOMM were worth $2,406,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in QUALCOMM during the third quarter worth $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter valued at about $27,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the 3rd 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 last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Citigroup dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 0.1 %

Shares of QUALCOMM stock opened at $171.93 on Friday. The firm has a market cap of $191.01 billion, a P/E ratio of 19.12, a P/E/G ratio of 2.85 and a beta of 1.25. The business has a 50-day moving average price of $160.44 and a 200 day moving average price of $166.92. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

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 issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.