Tyche Wealth Partners LLC Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Tyche Wealth Partners LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,320 shares of the wireless technology company’s stock, valued at approximately $817,000.

Several other large investors also recently bought and sold shares of the stock. Paulson Wealth Management Inc. grew its position in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after purchasing an additional 61 shares during the last quarter. Blossom Wealth Management boosted its holdings in QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares in the last quarter. Delta Financial Advisors LLC boosted its holdings in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares in the last quarter. Toth Financial Advisory Corp boosted its holdings in QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Citigroup lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ:QCOM opened at $175.86 on Thursday. The firm’s 50 day moving average price is $161.31 and its 200 day moving average price is $165.95. The stock has a market cap of $195.38 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $142.43 and a fifty-two week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.93%. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. This represents a 31.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by corporate insiders.

About QUALCOMM

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.