Moss Adams Wealth Advisors LLC Acquires 435 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Moss Adams Wealth Advisors LLC lifted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,450 shares of the wireless technology company’s stock after acquiring an additional 435 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in QUALCOMM were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its position in QUALCOMM by 95.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the period. Barlow Wealth Partners Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $318,000. Patrick M Sweeney & Associates Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $463,000. Blue Barn Wealth LLC lifted its stake in shares of QUALCOMM by 25.3% during the 4th quarter. Blue Barn Wealth LLC now owns 3,706 shares of the wireless technology company’s stock worth $536,000 after acquiring an additional 748 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in QUALCOMM by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after acquiring an additional 259,403 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly 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 can be accessed through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,316 shares of company stock valued at $7,796,128. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

QUALCOMM stock traded up $0.40 during mid-day trading on Wednesday, reaching $180.55. 5,875,146 shares of the company traded hands, compared to its average volume of 8,699,306. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $184.31. The firm’s fifty day moving average is $168.62 and its two-hundred day moving average is $148.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market capitalization of $201.49 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. 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 dividend on an annualized basis and a yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on QCOM shares. Bank of America lifted their target price on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Wolfe Research lifted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Finally, Robert W. Baird increased their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.48.

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.