Moran Wealth Management LLC Has $9.40 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Moran Wealth Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,987 shares of the wireless technology company’s stock after selling 71,815 shares during the quarter. Moran Wealth Management LLC’s holdings in QUALCOMM were worth $9,399,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. lifted its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC lifted its stake in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Fortitude Family Office LLC bought a new position in QUALCOMM in the fourth quarter valued at approximately $35,000. Finally, Cranbrook Wealth Management LLC lifted its stake in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock traded up $5.28 on Wednesday, reaching $194.25. The company had a trading volume of 4,170,629 shares, compared to its average volume of 8,535,050. The stock has a market capitalization of $216.78 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.28 and a beta of 1.33. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $194.32. The business’s 50-day moving average is $170.86 and its 200 day moving average is $150.77.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 43.01%.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,802.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,160 shares of company stock valued at $9,939,349. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Wolfe Research boosted their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $180.48.

Get Our Latest Report on QCOM

QUALCOMM Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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