Mainstream Capital Management LLC Takes $46,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mainstream Capital Management LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 302 shares of the wireless technology company’s stock, valued at approximately $46,000.

A number of other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $29,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $38,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.3 %

Shares of QUALCOMM stock opened at $153.62 on Tuesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a market cap of $169.90 billion, a PE ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25. The stock has a fifty day moving average price of $164.84 and a 200-day moving average price of $165.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.21%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,045 shares of company stock worth $8,237,043 in the last quarter. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on QCOM shares. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI decreased their target price on shares of 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 research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.