723 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Modus Advisors LLC

Modus Advisors LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 723 shares of the wireless technology company’s stock, valued at approximately $111,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Paulson Wealth Management Inc. lifted its position in shares of QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the last quarter. Delta Financial Advisors LLC grew its position in QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares during the period. Muirfield Wealth Advisors LLC boosted its stake in QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after buying an additional 66 shares during the period. Finally, Gryphon Financial Partners LLC lifted its stake in QUALCOMM by 2.8% during the second quarter. Gryphon Financial Partners LLC now owns 2,489 shares of the wireless technology company’s stock worth $496,000 after purchasing an additional 67 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on QCOM. Citigroup reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Wells Fargo & Company upped 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 equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has 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 an average price target of $208.00.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $1.01 during trading hours on Friday, reaching $154.65. 748,724 shares of the company’s stock traded hands, compared to its average volume of 2,770,290. The business’s fifty day simple moving average is $160.89 and its two-hundred day simple moving average is $172.78. The firm has a market capitalization of $171.82 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a twelve month low of $134.94 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.85 dividend. The ex-dividend date was Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 2.20%. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.