Virginia Wealth Management Group Inc. Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Virginia Wealth Management Group Inc. increased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,665 shares of the wireless technology company’s stock after purchasing an additional 211 shares during the period. QUALCOMM accounts for 2.8% of Virginia Wealth Management Group Inc.’s holdings, making the stock its 12th biggest holding. Virginia Wealth Management Group Inc.’s holdings in QUALCOMM were worth $4,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Weaver Capital Management LLC boosted its holdings in shares of QUALCOMM by 304.3% during the 4th quarter. Weaver Capital Management LLC now owns 7,270 shares of the wireless technology company’s stock valued at $1,117,000 after purchasing an additional 5,472 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $224,000. Stratos Wealth Partners LTD. boosted its stake in QUALCOMM by 2.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 121,266 shares of the wireless technology company’s stock valued at $18,629,000 after buying an additional 2,674 shares during the last quarter. Silverlake Wealth Management LLC grew its holdings in QUALCOMM by 7.1% during the 4th quarter. Silverlake Wealth Management LLC now owns 2,380 shares of the wireless technology company’s stock valued at $366,000 after buying an additional 157 shares in the last quarter. Finally, Sargent Investment Group LLC increased its stake in QUALCOMM by 25.8% in the 4th quarter. Sargent Investment Group LLC now owns 30,784 shares of the wireless technology company’s stock worth $4,837,000 after acquiring an additional 6,312 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM 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 sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,981 shares of company stock worth $4,000,870. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $173.04 on Wednesday. The firm has a market capitalization of $192.25 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.87 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. The business’s 50-day moving average is $160.99 and its two-hundred day moving average is $166.04. QUALCOMM Incorporated has a 1 year low of $141.21 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $9.90 billion. Research analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.