Acas LLC Invests $202,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Acas LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,400 shares of the wireless technology company’s stock, valued at approximately $202,000.

Several other institutional investors also recently modified their holdings of the business. Glass Jacobson Investment Advisors llc grew its stake in shares of QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after buying an additional 68 shares during the last quarter. Chilton Capital Management LLC lifted its position in QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after acquiring an additional 70 shares in the last quarter. Means Investment CO. Inc. lifted its position in QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after acquiring an additional 71 shares in the last quarter. Marino Stram & Associates LLC lifted its position in QUALCOMM by 2.5% in the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 73 shares in the last quarter. Finally, First Command Advisory Services Inc. lifted its position in QUALCOMM by 6.1% in the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after acquiring an additional 79 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QCOM stock traded down $0.40 during trading on Thursday, reaching $163.23. The company’s stock had a trading volume of 1,026,782 shares, compared to its average volume of 8,472,573. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $182.16 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company’s fifty day moving average is $165.43 and its 200-day moving average is $143.97.

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 during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were 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 directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler upped their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Barclays increased their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Canaccord Genuity Group increased their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Finally, KeyCorp increased their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $158.86.

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.