Beaumont Financial Advisors LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Beaumont Financial Advisors LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,938 shares of the wireless technology company’s stock after acquiring an additional 1,420 shares during the period. Beaumont Financial Advisors LLC’s holdings in QUALCOMM were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in shares of QUALCOMM during the second quarter valued at $30,000. Planning Capital Management Corp raised its stake in QUALCOMM by 137.3% in 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 during the 3rd quarter worth about $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM in the third quarter valued at about $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM 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 completion of the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.6 %

Shares of QUALCOMM stock opened at $167.27 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $158.78 and a 200 day moving average price of $168.29. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The firm has a market cap of $185.84 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.75 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.90 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.12 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. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $206.57.

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.