QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by Means Investment CO. Inc.

Means Investment CO. Inc. lifted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the fourth quarter, HoldingsChannel reports. The fund owned 7,141 shares of the wireless technology company’s stock after acquiring an additional 364 shares during the quarter. Means Investment CO. Inc.’s holdings in QUALCOMM were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $172.93 on Monday. The stock has a market capitalization of $192.13 billion, a P/E ratio of 19.24, a PEG ratio of 2.87 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $160.76 and its 200 day moving average price is $166.37. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company raised their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $206.57.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.