Masso Torrence Wealth Management Inc. Increases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Masso Torrence Wealth Management Inc. grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,701 shares of the wireless technology company’s stock after purchasing an additional 730 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in QUALCOMM were worth $969,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Community Bank & Trust Waco Texas lifted its holdings in QUALCOMM by 70.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 15,227 shares of the wireless technology company’s stock worth $2,202,000 after buying an additional 6,269 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of QUALCOMM by 4.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,054 shares of the wireless technology company’s stock worth $731,000 after purchasing an additional 211 shares in the last quarter. SlateStone Wealth LLC increased its position in shares of QUALCOMM by 4.7% during the fourth quarter. SlateStone Wealth LLC now owns 3,809 shares of the wireless technology company’s stock worth $551,000 after purchasing an additional 172 shares in the last quarter. Roble Belko & Company Inc increased its position in shares of QUALCOMM by 62.7% during the fourth quarter. Roble Belko & Company Inc now owns 3,005 shares of the wireless technology company’s stock worth $435,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of QUALCOMM by 252.8% during the fourth quarter. Larson Financial Group LLC now owns 5,528 shares of the wireless technology company’s stock worth $800,000 after purchasing an additional 3,961 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on QCOM shares. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity Group lifted their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, Benchmark began coverage on QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $1.33 during trading on Tuesday, hitting $161.51. 3,698,097 shares of the stock were exchanged, compared to its average volume of 8,560,628. The company has a fifty day moving average price of $165.01 and a two-hundred day moving average price of $143.47. The company has a market cap of $180.25 billion, a PE ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 46.38%.

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.