Impact Partnership Wealth LLC Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Impact Partnership Wealth LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,454 shares of the wireless technology company’s stock after acquiring an additional 775 shares during the quarter. Impact Partnership Wealth LLC’s holdings in QUALCOMM were worth $838,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter worth $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at about $30,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 2.4 %

QCOM stock opened at $174.36 on Friday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The firm has a market cap of $193.71 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The business has a 50 day moving average of $159.05 and a 200 day moving average of $168.04. 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 (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.