Lee Danner & Bass Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Lee Danner & Bass Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,742 shares of the wireless technology company’s stock, valued at approximately $268,000.

Several other large investors have also recently made changes to their positions in the business. Independent Solutions Wealth Management LLC raised its stake in shares of QUALCOMM by 5.5% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 14,064 shares of the wireless technology company’s stock worth $2,161,000 after acquiring an additional 737 shares in the last quarter. Antonelli Financial Advisors LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $251,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of QUALCOMM by 8.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 21,973 shares of the wireless technology company’s stock worth $3,375,000 after acquiring an additional 1,701 shares in the last quarter. OLD Point Trust & Financial Services N A raised its stake in shares of QUALCOMM by 10.3% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 2,136 shares of the wireless technology company’s stock worth $328,000 after acquiring an additional 200 shares in the last quarter. Finally, Symmetry Partners LLC bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $253,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $156.82 on Friday. The stock has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The firm’s 50-day moving average is $164.51 and its 200 day moving average is $163.98. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Melius Research began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.