Foster Victor Wealth Advisors LLC Acquires 19,635 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Foster Victor Wealth Advisors LLC grew its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 123,625 shares of the wireless technology company’s stock after acquiring an additional 19,635 shares during the period. QUALCOMM accounts for about 1.6% of Foster Victor Wealth Advisors LLC’s portfolio, making the stock its 13th largest position. Foster Victor Wealth Advisors LLC’s holdings in QUALCOMM were worth $20,344,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new position in QUALCOMM in the 2nd quarter worth approximately $896,000. Ascent Group LLC increased its stake in shares of QUALCOMM by 13.4% in the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after buying an additional 335 shares during the period. Algert Global LLC bought a new stake in shares of QUALCOMM during the second quarter worth $366,000. Invst LLC lifted its stake in shares of QUALCOMM by 2.9% during the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after acquiring an additional 67 shares during the period. Finally, Quarry LP increased its position in QUALCOMM by 155.5% in the second quarter. Quarry LP now owns 930 shares of the wireless technology company’s stock worth $185,000 after purchasing an additional 566 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on QCOM shares. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Up 0.0 %

Shares of QUALCOMM stock opened at $171.19 on Wednesday. The stock has a market cap of $190.19 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The business’s 50 day moving average is $159.76 and its 200-day moving average is $166.85.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. 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. Company 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.