Root Financial Partners LLC Buys 652 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Root Financial Partners LLC lifted its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,490 shares of the wireless technology company’s stock after purchasing an additional 652 shares during the quarter. Root Financial Partners LLC’s holdings in QUALCOMM were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. Geode Capital Management LLC grew its position in QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp increased its holdings in QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on QCOM. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

Shares of QCOM opened at $172.15 on Friday. The business’s fifty day moving average is $162.64 and its 200 day moving average is $165.50. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $190.40 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % 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 valued at $7,785,781 over the last ninety days. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.