Baron Wealth Management LLC Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Baron Wealth Management LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,408 shares of the wireless technology company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Susquehanna Fundamental Investments LLC acquired a new stake in shares of QUALCOMM in the second quarter valued at $896,000. Ascent Group LLC boosted its holdings in QUALCOMM by 13.4% during the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 335 shares during the period. Algert Global LLC purchased a new stake in QUALCOMM during the second quarter worth about $366,000. Advisory Alpha LLC lifted its position in shares of QUALCOMM by 33.3% during the second quarter. Advisory Alpha LLC now owns 2,499 shares of the wireless technology company’s stock worth $498,000 after purchasing an additional 624 shares in the last quarter. Finally, New Century Financial Group LLC purchased a new position in shares of QUALCOMM in the second quarter valued at approximately $360,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on QCOM shares. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.71 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $159.76 and a 200-day simple moving average of $166.85. The company has a market cap of $190.77 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63.

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

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM 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.