Alexander Randolph Advisory Inc. Purchases Shares of 2,112 QUALCOMM Incorporated (NASDAQ:QCOM)

Alexander Randolph Advisory Inc. purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,112 shares of the wireless technology company’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valmark Advisers Inc. grew its stake in shares of QUALCOMM by 36.9% in the 4th quarter. Valmark Advisers Inc. now owns 2,876 shares of the wireless technology company’s stock worth $416,000 after acquiring an additional 775 shares in the last quarter. Addison Advisors LLC grew its stake in shares of QUALCOMM by 8.9% in the 4th quarter. Addison Advisors LLC now owns 1,610 shares of the wireless technology company’s stock worth $233,000 after acquiring an additional 132 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $259,000. Headlands Technologies LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $1,855,000. Finally, Citizens Financial Group Inc. RI grew its stake in shares of QUALCOMM by 24.9% in the 4th quarter. Citizens Financial Group Inc. RI now owns 4,809 shares of the wireless technology company’s stock worth $696,000 after acquiring an additional 960 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $2.36 on Friday, reaching $165.66. The stock had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a market cap of $184.88 billion, a P/E ratio of 24.01, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $165.84 and its two-hundred day moving average is $144.70.

QUALCOMM (NASDAQ:QCOM) last announced 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 dividend yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on QCOM shares. Canaccord Genuity Group upped their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. KeyCorp upped their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Piper Sandler boosted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Benchmark started coverage on shares of QUALCOMM in a report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 price target on the stock. Finally, Barclays boosted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM 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.