Parisi Gray Wealth Management Has $1.91 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Parisi Gray Wealth Management trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,170 shares of the wireless technology company’s stock after selling 99 shares during the period. Parisi Gray Wealth Management’s holdings in QUALCOMM were worth $1,905,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $26,000. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% during the 3rd 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 during the period. Milestone Investment Advisors LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $26,000. Pacifica Partners Inc. raised its holdings in shares of QUALCOMM by 150.0% during the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after buying an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Canaccord Genuity Group upped their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” 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. Finally, Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Activity at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction dated 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 owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of QUALCOMM 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 sale, the insider now directly owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’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 value of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares in the company, valued at $2,747,520. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock worth $5,457,048 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM traded down $0.12 during trading hours on Thursday, reaching $169.01. 389,239 shares of the stock traded hands, compared to its average volume of 8,925,852. The company has a market cap of $188.62 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The stock has a 50 day simple moving average of $157.05 and a two-hundred day simple moving average of $135.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm 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 38.06% and a net margin of 21.39%. On average, analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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