Wynn Capital LLC Acquires Shares of 9,052 QUALCOMM Incorporated (NASDAQ:QCOM)

Wynn Capital LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,052 shares of the wireless technology company’s stock, valued at approximately $1,309,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Legacy Financial Group LLC bought a new stake in QUALCOMM during the 3rd quarter worth about $29,000. Fortitude Family Office LLC bought a new stake in QUALCOMM during the 4th quarter worth about $35,000. Cranbrook Wealth Management LLC grew its position in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its position in shares of QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after buying an additional 163,963 shares during the period. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on QCOM shares. Benchmark started coverage on QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price objective for the company. Canaccord Genuity Group boosted their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Cantor Fitzgerald boosted their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $2.28 on Wednesday, reaching $163.63. The stock had a trading volume of 6,117,469 shares, compared to its average volume of 8,570,011. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a fifty day moving average of $165.24 and a two-hundred day moving average of $143.83. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a market cap of $182.61 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.08%. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by company insiders.

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.