Cyndeo Wealth Partners LLC Increases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Cyndeo Wealth Partners LLC raised its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,258 shares of the wireless technology company’s stock after purchasing an additional 1,097 shares during the period. Cyndeo Wealth Partners LLC’s holdings in QUALCOMM were worth $654,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Maverick Capital Ltd. raised its holdings in shares of QUALCOMM by 49.7% during the 2nd quarter. Maverick Capital Ltd. now owns 8,344 shares of the wireless technology company’s stock worth $1,662,000 after acquiring an additional 2,771 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of QUALCOMM during the second quarter worth about $896,000. Kathmere Capital Management LLC acquired a new position in shares of QUALCOMM during the second quarter worth about $295,000. Ascent Group LLC grew its position in shares of QUALCOMM by 13.4% during the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock worth $564,000 after buying an additional 335 shares in the last quarter. Finally, Full Sail Capital LLC lifted its stake in QUALCOMM by 24.1% during the second quarter. Full Sail Capital LLC now owns 1,731 shares of the wireless technology company’s stock worth $345,000 after purchasing an additional 336 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on QCOM. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Evercore ISI lifted their price objective on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. One research 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 stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Down 1.3 %

Shares of NASDAQ QCOM opened at $172.11 on Friday. The firm’s 50-day simple moving average is $159.49 and its 200 day simple moving average is $167.83. The company has a market cap of $191.21 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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 dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by corporate 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.