Wynn Capital LLC Acquires Shares of 9,052 QUALCOMM Incorporated (NASDAQ:QCOM)

Wynn Capital LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel reports. The fund bought 9,052 shares of the wireless technology company’s stock, valued at approximately $1,309,000.

Several other hedge funds have also made changes to their positions in the business. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Fortitude Family Office LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $35,000. Cranbrook Wealth Management LLC lifted its position in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the third quarter valued at about $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in QUALCOMM in the third quarter valued at about $40,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QCOM. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. Cantor Fitzgerald increased their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Finally, TD Cowen raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Trading Up 1.4 %

Shares of QCOM traded up $2.28 during mid-day trading on Wednesday, reaching $163.63. The company had a trading volume of 6,117,469 shares, compared to its average volume of 8,570,011. The stock has a market cap of $182.61 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The firm has a fifty day simple moving average of $165.24 and a 200-day simple moving average of $143.83. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. 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 (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. QUALCOMM’s payout ratio is presently 46.38%.

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.