Cherry Tree Wealth Management LLC Grows Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cherry Tree Wealth Management LLC grew its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 95.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 236 shares of the wireless technology company’s stock after buying an additional 115 shares during the period. Cherry Tree Wealth Management LLC’s holdings in QUALCOMM were worth $34,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. grew its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM during the 4th quarter worth approximately $32,000. Fortitude Family Office LLC acquired a new position in QUALCOMM during the 4th quarter valued at approximately $35,000. Cranbrook Wealth Management LLC raised its holdings in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after buying an additional 163,963 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’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 $46,208,526. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.9 %

QUALCOMM stock traded down $1.70 during trading on Tuesday, reaching $180.15. 8,005,698 shares of the company were exchanged, compared to its average volume of 8,727,156. The stock’s 50 day simple moving average is $168.62 and its two-hundred day simple moving average is $148.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market capitalization of $201.05 billion, a P/E ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.33. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $184.31.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QCOM. Bank of America upped their target price on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Barclays raised their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler lifted their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $180.48.

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.