RBA Wealth Management LLC Increases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

RBA Wealth Management LLC lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,106 shares of the wireless technology company’s stock after acquiring an additional 506 shares during the period. QUALCOMM comprises approximately 1.8% of RBA Wealth Management LLC’s holdings, making the stock its 26th largest holding. RBA Wealth Management LLC’s holdings in QUALCOMM were worth $4,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter worth approximately $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $27,000. Planning Capital Management Corp lifted its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $170.24 on Tuesday. The stock has a market capitalization of $189.14 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 2.87 and a beta of 1.25. The company’s 50-day simple moving average is $160.76 and its 200-day simple moving average is $166.19. QUALCOMM Incorporated has a one year low of $141.21 and a one year high of $230.63. 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 posted its earnings results 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. The firm had revenue of $10.24 billion during 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%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on QCOM shares. Loop Capital began 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. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value 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 approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a legal filing 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 transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,981 shares of company stock worth $4,000,870. 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.