Cambridge Financial Group Inc. Invests $6.29 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Financial Group Inc. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 40,960 shares of the wireless technology company’s stock, valued at approximately $6,292,000. QUALCOMM accounts for 2.6% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 27th biggest holding.

Several other large investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM in the fourth quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $152.72 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $168.91 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $164.16 and its two-hundred day simple moving average is $163.82.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on QCOM shares. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. 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. Based on data from MarketBeat, the stock currently has a consensus 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.