QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by BayBridge Capital Group LLC

BayBridge Capital Group LLC increased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,278 shares of the wireless technology company’s stock after buying an additional 350 shares during the quarter. BayBridge Capital Group LLC’s holdings in QUALCOMM were worth $1,272,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday. Finally, UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $167.96 on Friday. The firm has a market cap of $185.76 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52 week low of $146.29 and a 52 week high of $230.63. The business’s fifty day simple moving average is $161.96 and its 200-day simple moving average is $166.04.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In related news, 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 value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now 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. Insiders have sold 24,981 shares of company stock worth $4,000,870 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.