Sage Mountain Advisors LLC Has $621,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Monument Capital Management acquired a new position in QUALCOMM during the fourth quarter valued at approximately $414,000. Kelman Lazarov Inc. acquired a new position in QUALCOMM during the fourth quarter valued at approximately $235,000. Significant Wealth Partners LLC acquired a new position in QUALCOMM during the fourth quarter valued at approximately $586,000. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $296,000. Finally, MCF Advisors LLC raised its stake in QUALCOMM by 8.8% in the fourth quarter. MCF Advisors LLC now owns 6,411 shares of the wireless technology company’s stock valued at $927,000 after buying an additional 520 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 1.6 %

Shares of NASDAQ:QCOM opened at $160.18 on Tuesday. The company has a market capitalization of $178.76 billion, a P/E ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business’s 50 day simple moving average is $165.01 and its 200 day simple moving average is $143.47.

QUALCOMM (NASDAQ:QCOM) last issued 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 business 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, research analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders 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 2.12%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were 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 in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, 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.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. Evercore ISI initiated coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. 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, Rosenblatt Securities upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One 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. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

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.