Sage Mountain Advisors LLC Acquires 217 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sage Mountain Advisors LLC raised its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,292 shares of the wireless technology company’s stock after purchasing an additional 217 shares during the period. Sage Mountain Advisors LLC’s holdings in QUALCOMM were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Montecito Bank & Trust grew its holdings in QUALCOMM by 1.7% during the third quarter. Montecito Bank & Trust now owns 6,422 shares of the wireless technology company’s stock valued at $713,000 after purchasing an additional 107 shares during the period. Fifth Third Wealth Advisors LLC bought a new position in QUALCOMM during the third quarter valued at $310,000. 1900 Wealth Management LLC grew its holdings in QUALCOMM by 90.7% during the third quarter. 1900 Wealth Management LLC now owns 3,905 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 1,857 shares during the period. Avior Wealth Management LLC grew its holdings in QUALCOMM by 1.7% during the third quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock valued at $1,273,000 after purchasing an additional 186 shares during the period. Finally, Founders Financial Securities LLC purchased a new stake in shares of QUALCOMM during the third quarter worth $327,000. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on QCOM. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Finally, Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Stock Up 1.6 %

QCOM opened at $160.18 on Tuesday. The stock has a market cap of $178.76 billion, a PE ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The business’s fifty day simple moving average is $165.01 and its 200 day simple moving average is $143.47.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business 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%. As a group, research analysts expect that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.