Paragon Private Wealth Management LLC Purchases 224 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Paragon Private Wealth Management LLC increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,397 shares of the wireless technology company’s stock after buying an additional 224 shares during the period. Paragon Private Wealth Management LLC’s holdings in QUALCOMM were worth $522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Meriwether Wealth & Planning LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $224,000. Johnson Investment Counsel Inc. grew its stake in shares of QUALCOMM by 1.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 32,025 shares of the wireless technology company’s stock worth $4,920,000 after purchasing an additional 361 shares during the last quarter. Tiemann Investment Advisors LLC grew its stake in shares of QUALCOMM by 7.6% in the fourth quarter. Tiemann Investment Advisors LLC now owns 1,697 shares of the wireless technology company’s stock worth $261,000 after purchasing an additional 120 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of QUALCOMM by 11.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 310,093 shares of the wireless technology company’s stock worth $47,637,000 after purchasing an additional 31,682 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in QUALCOMM by 6.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823,029 shares of the wireless technology company’s stock valued at $126,434,000 after acquiring an additional 48,819 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QCOM shares. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Loop Capital initiated coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $161.22 on Monday. 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 fifty day moving average of $164.76 and a two-hundred day moving average of $165.03. The stock has a market capitalization of $178.31 billion, a PE ratio of 17.22, a P/E/G 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.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio is presently 36.32%.

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.