QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,844 shares of the wireless technology company’s stock after purchasing an additional 628 shares during the quarter. Lake Street Advisors Group LLC’s holdings in QUALCOMM were worth $1,973,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares in the last quarter. TBH Global Asset Management LLC increased its position in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares in the last quarter. Delta Financial Advisors LLC raised its holdings in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of QUALCOMM by 1.1% in 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 acquiring an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after acquiring an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QCOM. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Sanford C. Bernstein increased their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given 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, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were 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 directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock worth $7,713,734 in the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 0.1 %

Shares of QCOM opened at $161.22 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a market cap of $178.31 billion, a PE ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.25. The stock’s 50-day moving average is $164.59 and its two-hundred day moving average is $165.79.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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 analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.