6,053 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,053 shares of the wireless technology company’s stock, valued at approximately $930,000.

A number of other hedge funds have also recently modified their holdings of QCOM. CreativeOne Wealth LLC boosted its holdings in QUALCOMM by 36.3% in the third quarter. CreativeOne Wealth LLC now owns 7,714 shares of the wireless technology company’s stock worth $1,312,000 after acquiring an additional 2,056 shares in the last quarter. National Wealth Management Group LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $431,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in QUALCOMM by 10.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 774,210 shares of the wireless technology company’s stock valued at $131,654,000 after purchasing an additional 71,644 shares during the last quarter. Boussard & Gavaudan Investment Management LLP bought a new stake in QUALCOMM during the 3rd quarter valued at about $20,008,000. Finally, Public Sector Pension Investment Board raised its holdings in QUALCOMM by 11.8% in the third quarter. Public Sector Pension Investment Board now owns 48,277 shares of the wireless technology company’s stock worth $8,210,000 after buying an additional 5,100 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on QCOM. 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 report on Tuesday, January 7th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Melius initiated coverage on QUALCOMM in a research note 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 issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 0.3 %

Shares of QUALCOMM stock opened at $157.97 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a market cap of $174.71 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The firm’s 50-day moving average is $164.40 and its two-hundred day moving average is $163.88. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. As a group, research analysts expect 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 was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were 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 of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. Corporate 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.