Bridgewealth Advisory Group LLC Purchases Shares of 1,282 QUALCOMM Incorporated (NASDAQ:QCOM)

Bridgewealth Advisory Group LLC acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,282 shares of the wireless technology company’s stock, valued at approximately $197,000.

A number of other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter worth about $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM during the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $38,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.5 %

QUALCOMM stock opened at $146.88 on Wednesday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average price is $149.02 and its two-hundred day moving average price is $159.13. The firm has a market capitalization of $162.45 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.42%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 38.03%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QCOM. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $200.86.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock valued at $5,047,052 in the last 90 days. 0.08% of the stock is currently owned by corporate 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.