Saxon Interests Inc. Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Saxon Interests Inc. purchased 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 institutional investor purchased 2,242 shares of the wireless technology company’s stock, valued at approximately $324,000.

Several other large investors have also made changes to their positions in QCOM. Moneta Group Investment Advisors LLC raised its holdings in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the fourth quarter worth about $1,467,351,000. Cowa LLC bought a new position in shares of QUALCOMM in the first quarter worth about $94,000. Morgan Stanley boosted its stake in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $119.00 to $132.00 in a report on Friday, December 8th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

QUALCOMM Trading Up 0.1 %

Shares of NASDAQ:QCOM traded up $0.17 during midday trading on Thursday, reaching $169.30. The company’s stock had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. The firm has a 50 day moving average price of $157.64 and a two-hundred day moving average price of $135.88. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The firm has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.