Trueblood Wealth Management LLC Purchases New Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Trueblood Wealth Management LLC purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,798 shares of the wireless technology company’s stock, valued at approximately $1,272,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Rheos Capital Works Inc. raised its stake in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after acquiring an additional 42,500 shares in the last quarter. HF Advisory Group LLC acquired a new position in QUALCOMM during the third quarter worth about $629,000. DnB Asset Management AS raised its stake in QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after acquiring an additional 215,522 shares in the last quarter. Sather Financial Group Inc raised its stake in QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after acquiring an additional 18,090 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after acquiring an additional 7,682 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCOM. Piper Sandler boosted their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. TD Cowen boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Finally, Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Transactions at QUALCOMM

In other news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the completion of the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 over the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 1.2 %

Shares of QUALCOMM stock traded up $2.06 on Wednesday, reaching $169.13. 6,309,214 shares of the company’s stock were exchanged, compared to its average volume of 9,062,348. The company has a market capitalization of $188.75 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The firm’s 50-day moving average is $157.05 and its two-hundred day moving average is $135.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Sell-side analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

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.