Kestra Private Wealth Services LLC Has $21.84 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Kestra Private Wealth Services LLC raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,027 shares of the wireless technology company’s stock after purchasing an additional 7,545 shares during the quarter. QUALCOMM accounts for approximately 0.6% of Kestra Private Wealth Services LLC’s portfolio, making the stock its 28th largest position. Kestra Private Wealth Services LLC’s holdings in QUALCOMM were worth $21,843,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Anchor Capital Advisors LLC lifted its stake in QUALCOMM by 32.8% during the 4th quarter. Anchor Capital Advisors LLC now owns 113,292 shares of the wireless technology company’s stock valued at $16,385,000 after acquiring an additional 27,971 shares in the last quarter. Intrust Bank NA increased its position in shares of QUALCOMM by 0.8% during the fourth quarter. Intrust Bank NA now owns 10,296 shares of the wireless technology company’s stock valued at $1,489,000 after acquiring an additional 81 shares during the last quarter. Naviter Wealth LLC raised its stake in shares of QUALCOMM by 44.0% during the 4th quarter. Naviter Wealth LLC now owns 9,280 shares of the wireless technology company’s stock worth $1,342,000 after purchasing an additional 2,834 shares during the period. Birchcreek Wealth Management LLC boosted its stake in QUALCOMM by 8.7% in the fourth quarter. Birchcreek Wealth Management LLC now owns 3,681 shares of the wireless technology company’s stock valued at $532,000 after acquiring an additional 295 shares during the last quarter. Finally, Chase Investment Counsel Corp purchased a new position in QUALCOMM in the fourth quarter valued at approximately $416,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 target price for the company. Mizuho increased their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Piper Sandler raised their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM traded up $3.54 during midday trading on Monday, reaching $169.20. The stock had a trading volume of 6,619,586 shares, compared to its average volume of 8,500,422. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $188.83 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company’s 50-day moving average is $166.17 and its 200 day moving average is $145.34. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is currently 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.