Spurstone Advisory Services LLC Invests $47,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Spurstone Advisory Services LLC bought a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 306 shares of the wireless technology company’s stock, valued at approximately $47,000. QUALCOMM accounts for approximately 0.9% of Spurstone Advisory Services LLC’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in QUALCOMM in the fourth quarter valued at approximately $207,000. Merit Financial Group LLC increased its position in QUALCOMM by 40.4% during the 4th quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company’s stock worth $3,516,000 after buying an additional 6,591 shares during the period. Sax Wealth Advisors LLC boosted its holdings in QUALCOMM by 43.7% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company’s stock valued at $273,000 after purchasing an additional 540 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $227,000. Finally, HB Wealth Management LLC raised its stake in QUALCOMM by 17.3% in the fourth quarter. HB Wealth Management LLC now owns 31,426 shares of the wireless technology company’s stock valued at $4,828,000 after purchasing an additional 4,626 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital reduced their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $192.08.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,312 shares of company stock valued at $1,948,379. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock opened at $152.50 on Monday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock has a market cap of $167.45 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.01 and a beta of 1.29. The business has a fifty day simple moving average of $145.94 and a 200-day simple moving average of $156.80.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.33%. QUALCOMM’s dividend payout ratio is currently 36.25%.

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.