QUALCOMM Incorporated (NASDAQ:QCOM) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,770 shares of the wireless technology company’s stock after buying an additional 123 shares during the quarter. Great Lakes Retirement Inc.’s holdings in QUALCOMM were worth $2,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the subject of several research analyst reports. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup reduced 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, Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,268 shares of company stock valued at $7,276,381 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.4 %

NASDAQ QCOM opened at $171.99 on Wednesday. The company’s fifty day simple moving average is $162.31 and its 200-day simple moving average is $165.53. The stock has a market cap of $190.22 billion, a P/E ratio of 18.38, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $148.41 and a 52 week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its 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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.