Saxon Interests Inc. Buys Shares of 2,242 QUALCOMM Incorporated (NASDAQ:QCOM)

Saxon Interests Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,242 shares of the wireless technology company’s stock, valued at approximately $324,000.

Other large investors have also made changes to their positions in the company. Fairfield Bush & CO. boosted its stake in shares of QUALCOMM by 1.3% during the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after acquiring an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in QUALCOMM by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares in the last quarter. Merit Financial Group LLC grew its holdings in QUALCOMM by 25.2% during the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after purchasing an additional 555 shares during the period. NewEdge Advisors LLC increased its position in QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after buying an additional 8,472 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after buying an additional 79,827 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

Shares of QCOM stock traded up $0.17 on Thursday, reaching $169.30. The company’s stock had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. The company has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The stock’s fifty day simple moving average is $157.64 and its 200-day simple moving average is $135.88. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Piper Sandler upped their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $119.00 to $132.00 in a report on Friday, December 8th. Finally, KeyCorp raised their price target on QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.71.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares in the company, valued at $2,747,520. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 689 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is currently owned by insiders.

QUALCOMM 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.