Legacy Wealth Asset Management LLC Takes $1.07 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Wealth Asset Management LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 7,050 shares of the wireless technology company’s stock, valued at approximately $1,074,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Moser Wealth Advisors LLC raised its position in QUALCOMM by 223.2% in the fourth quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after purchasing an additional 125 shares during the period. Capital Directions Investment Advisors LLC lifted its position in QUALCOMM by 100.0% in the fourth quarter. Capital Directions Investment Advisors LLC now owns 200 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. RMR Wealth Builders purchased a new position in QUALCOMM during the fourth quarter worth about $30,000. Valley Brook Capital Group purchased a new position in QUALCOMM during the fourth quarter worth about $30,000. Finally, Addison Advisors LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.

QCOM stock traded up $0.67 during trading on Wednesday, hitting $138.73. The company had a trading volume of 112,287 shares, compared to its average volume of 10,829,406. The firm has a 50-day moving average price of $134.70 and a 200-day moving average price of $140.02. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51. The firm has a market cap of $157.60 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. QUALCOMM Incorporated has a 1-year low of $70.00 and a 1-year high of $167.94.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The company had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same period last year, the business posted $0.80 EPS. The company’s revenue was up 62.2% on a year-over-year basis. Sell-side analysts anticipate that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 3rd. QUALCOMM’s payout ratio is 77.84%.

QCOM has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on QUALCOMM from $185.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, March 10th. Standpoint Research cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Friday, December 11th. Raymond James increased their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 19th. Cascend Securities lifted their price objective on shares of QUALCOMM from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 2nd. Finally, Rosenblatt Securities raised their price target on QUALCOMM from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $160.88.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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