Great Lakes Retirement Inc. Has $2.27 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Great Lakes Retirement Inc. boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,670 shares of the wireless technology company’s stock after purchasing an additional 393 shares during the quarter. Great Lakes Retirement Inc.’s holdings in QUALCOMM were worth $2,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DHJJ Financial Advisors Ltd. acquired a new position in QUALCOMM during the third quarter worth about $26,000. Financial Gravity Asset Management Inc. raised its stake in 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 in the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the first quarter worth about $26,000. Pacifica Partners Inc. raised its stake in QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after acquiring an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in QUALCOMM during the third quarter worth about $29,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 directly owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was 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 directly owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 34,360 shares of company stock worth $5,457,048. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays boosted their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. TD Cowen upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Piper Sandler upped their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $148.71.

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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued 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 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.