Root Financial Partners LLC Has $382,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Root Financial Partners LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 35.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the wireless technology company’s stock after buying an additional 652 shares during the period. Root Financial Partners LLC’s holdings in QUALCOMM were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Creative Planning increased its holdings in QUALCOMM by 0.5% in the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock valued at $68,147,000 after purchasing an additional 2,086 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its position in shares of QUALCOMM by 0.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,992 shares of the wireless technology company’s stock worth $5,100,000 after buying an additional 246 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of QUALCOMM by 1.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 16,375 shares of the wireless technology company’s stock valued at $2,785,000 after acquiring an additional 184 shares during the last quarter. Paragon Capital Management Inc. raised its position in shares of QUALCOMM by 64.4% in the 3rd quarter. Paragon Capital Management Inc. now owns 4,280 shares of the wireless technology company’s stock valued at $728,000 after acquiring an additional 1,677 shares during the period. Finally, Twelve Points Wealth Management LLC boosted its stake in QUALCOMM by 2.2% during the 3rd quarter. Twelve Points Wealth Management LLC now owns 13,381 shares of the wireless technology company’s stock worth $2,275,000 after acquiring an additional 285 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,268 shares of company stock worth $7,785,781. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $172.15 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. The firm has a market cap of $190.40 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 2.80 and a beta of 1.25. The stock’s fifty day moving average price is $162.64 and its two-hundred day moving average price is $165.50. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current 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 $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on QCOM shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. 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. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One equities research 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 stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Company 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.