Ingalls & Snyder LLC Buys 205 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ingalls & Snyder LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,001 shares of the wireless technology company’s stock after acquiring an additional 205 shares during the quarter. Ingalls & Snyder LLC’s holdings in QUALCOMM were worth $3,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CX Institutional lifted its holdings in QUALCOMM by 334.2% in the 3rd quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after buying an additional 19,212 shares during the period. Wesbanco Bank Inc. lifted its holdings in QUALCOMM by 0.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after buying an additional 88 shares during the period. Creative Planning lifted its holdings in QUALCOMM by 0.5% in the 3rd quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after buying an additional 2,086 shares during the period. Magnus Financial Group LLC lifted its holdings in QUALCOMM by 17.1% in the 3rd quarter. Magnus Financial Group LLC now owns 2,968 shares of the wireless technology company’s stock worth $505,000 after buying an additional 434 shares during the period. Finally, Regatta Capital Group LLC lifted its holdings in QUALCOMM by 29.7% in the 3rd quarter. Regatta Capital Group LLC now owns 1,867 shares of the wireless technology company’s stock worth $317,000 after buying an additional 428 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $170.29 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $188.34 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $148.41 and a 12 month high of $230.63. The business’s 50-day moving average is $162.50 and its 200 day moving average is $165.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.00%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QCOM shares. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.