BayBridge Capital Group LLC Grows Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

BayBridge Capital Group LLC boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,278 shares of the wireless technology company’s stock after buying an additional 350 shares during the quarter. BayBridge Capital Group LLC’s holdings in QUALCOMM were worth $1,272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter worth about $27,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $38,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were 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 directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $167.96 on Friday. QUALCOMM Incorporated has a 12 month low of $146.29 and a 12 month high of $230.63. The stock has a fifty day moving average price of $161.96 and a 200-day moving average price of $166.04. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The firm has a market cap of $185.76 billion, a PE ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts predict that QUALCOMM Incorporated will post 9.19 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 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

About QUALCOMM

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.