GC Wealth Management RIA LLC Acquires 2,672 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

GC Wealth Management RIA LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,370 shares of the wireless technology company’s stock after purchasing an additional 2,672 shares during the quarter. GC Wealth Management RIA LLC’s holdings in QUALCOMM were worth $1,593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% during 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 acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,955 shares of company stock worth $4,847,350 in the last quarter. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 3.9 %

QCOM stock opened at $154.98 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $171.41 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The stock has a fifty day moving average of $164.77 and a 200-day moving average of $164.93.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results 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%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share 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 2.19%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research reports. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

About QUALCOMM

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.