QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,450 shares of the wireless technology company’s stock after purchasing an additional 435 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in QUALCOMM were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $32,000. Cherry Tree Wealth Management LLC grew its position in shares of 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 purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the 4th quarter worth approximately $35,000. Finally, Cranbrook Wealth Management LLC raised 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 purchasing an additional 100 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.2 %

Shares of NASDAQ QCOM traded up $0.40 on Wednesday, hitting $180.55. The company had a trading volume of 5,875,146 shares, compared to its average volume of 8,699,306. The firm has a market capitalization of $201.49 billion, a P/E ratio of 24.27, a PEG ratio of 2.27 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 12-month low of $101.47 and a 12-month high of $184.31. The business has a 50 day moving average of $168.62 and a two-hundred day moving average of $148.09.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. HSBC upped their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Bank of America boosted their price objective on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company boosted their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $180.48.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s 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 directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,316 shares of company stock valued at $7,796,128. Corporate insiders own 0.08% of the company’s stock.

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.