Crowley Wealth Management Inc. Invests $222,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Crowley Wealth Management Inc. purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,448 shares of the wireless technology company’s stock, valued at approximately $222,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM in the fourth quarter worth $2,058,000. Burney Co. boosted its position in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $240,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the 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 completion of the transaction, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QCOM opened at $156.82 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 stock’s 50 day moving average price is $164.51 and its two-hundred day moving average price is $163.98. The firm has a market capitalization of $173.44 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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 return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Analyst Ratings Changes

QCOM has been the subject of several research analyst reports. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Evercore ISI reduced their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.