Legacy Financial Advisors Inc. Acquires 482 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Legacy Financial Advisors Inc. boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,634 shares of the wireless technology company’s stock after acquiring an additional 482 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in QUALCOMM were worth $670,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in QCOM. DiNuzzo Private Wealth Inc. bought a new position in shares of QUALCOMM during the 4th quarter valued at about $32,000. Financial Gravity Asset Management Inc. increased its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at about $35,000. Cranbrook Wealth Management LLC increased 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 valued at $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now directly owns 253,893 shares in the company, valued at $46,208,526. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $0.46 on Friday, reaching $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The stock has a market cap of $200.48 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.47 and a beta of 1.33. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The company has a 50 day simple moving average of $167.69 and a 200 day simple moving average of $146.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced 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. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. QUALCOMM’s payout ratio is 43.01%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday. Bank of America increased their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group increased their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Mizuho increased their price objective on QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $179.36.

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.