Monument Capital Management Takes $414,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Monument Capital Management acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,863 shares of the wireless technology company’s stock, valued at approximately $414,000.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Montecito Bank & Trust raised its holdings in QUALCOMM by 1.7% in the 3rd quarter. Montecito Bank & Trust now owns 6,422 shares of the wireless technology company’s stock worth $713,000 after purchasing an additional 107 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $310,000. 1900 Wealth Management LLC raised its holdings in QUALCOMM by 90.7% in the 3rd quarter. 1900 Wealth Management LLC now owns 3,905 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 1,857 shares during the period. Avior Wealth Management LLC raised its holdings in QUALCOMM by 1.7% in the 3rd quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock worth $1,273,000 after purchasing an additional 186 shares during the period. Finally, Founders Financial Securities LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $327,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QCOM shares. Benchmark started coverage on QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 target price for the company. Cantor Fitzgerald increased their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. TD Cowen upped their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays upped their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.6 %

NASDAQ:QCOM opened at $160.18 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $165.01 and its two-hundred day moving average is $143.47. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The stock has a market capitalization of $178.76 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping 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 company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. Research analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.