Ellis Investment Partners LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ellis Investment Partners LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,424 shares of the wireless technology company’s stock after buying an additional 1,163 shares during the period. Ellis Investment Partners LLC’s holdings in QUALCOMM were worth $2,523,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Paulson Wealth Management Inc. increased its stake in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares in the last quarter. Blossom Wealth Management increased its stake in QUALCOMM by 2.6% in the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC boosted its holdings in shares of QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the last quarter. Toth Financial Advisory Corp boosted its holdings in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in shares of QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, 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 value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $172.23 on Friday. The firm has a market cap of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The firm’s 50 day simple moving average is $163.13 and its 200-day simple moving average is $165.50. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.19 EPS 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 paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analyst Weigh In

Several research firms have commented on QCOM. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM 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.