Legacy Financial Advisors Inc. Raises Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Financial Advisors Inc. boosted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,274 shares of the wireless technology company’s stock after buying an additional 633 shares during the period. Legacy Financial Advisors Inc.’s holdings in QUALCOMM were worth $964,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Continuum Advisory LLC boosted its position in QUALCOMM by 15.5% in the 3rd quarter. Continuum Advisory LLC now owns 3,342 shares of the wireless technology company’s stock worth $548,000 after purchasing an additional 448 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth approximately $431,000. TD Private Client Wealth LLC boosted its position in QUALCOMM by 1.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 9,884 shares of the wireless technology company’s stock worth $1,681,000 after purchasing an additional 100 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in QUALCOMM by 6.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,249 shares of the wireless technology company’s stock worth $1,744,000 after purchasing an additional 664 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in QUALCOMM by 1,924.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 33,410 shares of the wireless technology company’s stock worth $5,681,000 after purchasing an additional 31,760 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $143.59 on Thursday. The stock has a market cap of $158.81 billion, a PE ratio of 15.34, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock has a fifty day simple moving average of $157.89 and a 200-day simple moving average of $161.88.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on QCOM. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. TD Cowen reduced their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $202.64.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated 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 owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,018 shares of company stock worth $4,955,613 in the last three months. 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.