QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by First Foundation Advisors

First Foundation Advisors lifted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,770 shares of the wireless technology company’s stock after buying an additional 45,769 shares during the period. QUALCOMM makes up 0.9% of First Foundation Advisors’ portfolio, making the stock its 26th biggest position. First Foundation Advisors’ holdings in QUALCOMM were worth $24,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Treasurer of the State of North Carolina boosted its position in shares of QUALCOMM by 0.9% in the fourth quarter. Treasurer of the State of North Carolina now owns 587,206 shares of the wireless technology company’s stock worth $90,207,000 after buying an additional 5,288 shares during the period. Legacy Financial Advisors Inc. boosted its position in shares of QUALCOMM by 11.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 6,274 shares of the wireless technology company’s stock worth $964,000 after buying an additional 633 shares during the period. Redwood Park Advisors LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $40,000. LSV Asset Management grew its stake in QUALCOMM by 15.1% during the 4th quarter. LSV Asset Management now owns 2,989,072 shares of the wireless technology company’s stock valued at $459,181,000 after purchasing an additional 392,802 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in QUALCOMM by 0.7% during the 4th quarter. Scotia Capital Inc. now owns 129,247 shares of the wireless technology company’s stock worth $19,855,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. TD Cowen decreased their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $202.64.

QUALCOMM Stock Down 4.2 %

Shares of QCOM stock opened at $137.58 on Thursday. The company’s fifty day simple moving average is $157.89 and its two-hundred day simple moving average is $161.88. 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 has a market cap of $152.16 billion, a P/E ratio of 14.70, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63.

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%. Analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.47%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction 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. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,018 shares of company stock valued at $4,955,613. 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.