Sax Wealth Advisors LLC Buys 540 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sax Wealth Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,776 shares of the wireless technology company’s stock after acquiring an additional 540 shares during the period. Sax Wealth Advisors LLC’s holdings in QUALCOMM were worth $273,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in QUALCOMM by 11.6% in the 2nd quarter. Pacer Advisors Inc. now owns 177,040 shares of the wireless technology company’s stock valued at $35,263,000 after buying an additional 18,379 shares during the last quarter. Kowal Investment Group LLC increased its position in QUALCOMM by 31.4% in the 2nd quarter. Kowal Investment Group LLC now owns 5,002 shares of the wireless technology company’s stock valued at $996,000 after acquiring an additional 1,195 shares during the period. Profund Advisors LLC raised its stake in shares of QUALCOMM by 6.3% during the second quarter. Profund Advisors LLC now owns 182,012 shares of the wireless technology company’s stock valued at $36,253,000 after acquiring an additional 10,807 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of QUALCOMM by 86.7% during the second quarter. ProShare Advisors LLC now owns 2,739,106 shares of the wireless technology company’s stock worth $545,575,000 after purchasing an additional 1,272,191 shares during the period. Finally, Frank Rimerman Advisors LLC grew its stake in shares of QUALCOMM by 4,438.9% in the second quarter. Frank Rimerman Advisors LLC now owns 21,923 shares of the wireless technology company’s stock worth $4,367,000 after purchasing an additional 21,440 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Citigroup cut their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 1.9 %

NASDAQ:QCOM opened at $164.56 on Monday. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The firm has a 50-day moving average price of $158.85 and a two-hundred day moving average price of $168.82. The firm has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, equities analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

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.