Cornerstone Wealth Group LLC Buys 1,454 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Wealth Group LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,788 shares of the wireless technology company’s stock after buying an additional 1,454 shares during the period. Cornerstone Wealth Group LLC’s holdings in QUALCOMM were worth $4,883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV lifted its stake in shares of QUALCOMM by 84.6% in the fourth quarter. KBC Group NV now owns 1,535,063 shares of the wireless technology company’s stock worth $235,816,000 after acquiring an additional 703,674 shares during the period. Union Bancaire Privee UBP SA bought a new position in QUALCOMM during the 4th quarter worth approximately $10,394,000. Blue Trust Inc. lifted its position in shares of QUALCOMM by 31.4% in the 4th quarter. Blue Trust Inc. now owns 18,661 shares of the wireless technology company’s stock worth $3,173,000 after purchasing an additional 4,464 shares during the period. Kingswood Wealth Advisors LLC boosted its stake in shares of QUALCOMM by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,467 shares of the wireless technology company’s stock valued at $4,220,000 after purchasing an additional 819 shares during the last quarter. Finally, PFG Investments LLC increased its position in shares of QUALCOMM by 0.9% during the fourth quarter. PFG Investments LLC now owns 20,923 shares of the wireless technology company’s stock worth $3,214,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on QCOM. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Down 1.3 %

Shares of QCOM stock opened at $172.11 on Monday. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a 50-day simple moving average of $159.49 and a two-hundred day simple moving average of $167.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 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 (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Research analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by company insiders.

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.