Dividend Assets Capital LLC Raises Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dividend Assets Capital LLC grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,768 shares of the wireless technology company’s stock after buying an additional 3,001 shares during the quarter. QUALCOMM accounts for 2.6% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 10th biggest position. Dividend Assets Capital LLC’s holdings in QUALCOMM were worth $13,176,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter worth approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. Planning Capital Management Corp grew its position in 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 acquiring an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 4.8 %

QUALCOMM stock opened at $165.43 on Friday. The firm has a market cap of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a fifty day simple moving average of $164.46 and a two-hundred day simple moving average of $165.72.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QCOM shares. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.