Investment Partners Asset Management Inc. Has $911,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Investment Partners Asset Management Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,928 shares of the wireless technology company’s stock after selling 98 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in QUALCOMM were worth $911,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional boosted its stake in shares of QUALCOMM by 334.2% during the 3rd quarter. CX Institutional now owns 24,960 shares of the wireless technology company’s stock worth $4,244,000 after acquiring an additional 19,212 shares in the last quarter. Wesbanco Bank Inc. boosted its position in QUALCOMM by 0.7% during the third quarter. Wesbanco Bank Inc. now owns 13,590 shares of the wireless technology company’s stock worth $2,311,000 after purchasing an additional 88 shares during the period. Creative Planning grew its holdings in QUALCOMM by 0.5% during 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. Magnus Financial Group LLC raised its position in shares of QUALCOMM by 17.1% in the third quarter. Magnus Financial Group LLC now owns 2,968 shares of the wireless technology company’s stock valued at $505,000 after purchasing an additional 434 shares during the period. Finally, Regatta Capital Group LLC lifted its stake in shares of QUALCOMM by 29.7% in the third quarter. Regatta Capital Group LLC now owns 1,867 shares of the wireless technology company’s stock worth $317,000 after buying an additional 428 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.0 %

QCOM opened at $170.29 on Thursday. The firm has a market cap of $188.34 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The firm’s 50-day simple moving average is $162.64 and its 200-day simple moving average is $165.50. QUALCOMM Incorporated has a twelve month low of $148.41 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 anticipate that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the company’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 transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s 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 of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,268 shares of company stock worth $7,785,781. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.