Raab & Moskowitz Asset Management LLC Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Raab & Moskowitz Asset Management LLC lifted its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,892 shares of the wireless technology company’s stock after buying an additional 115 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in QUALCOMM were worth $563,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth about $29,000. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $35,000. Cranbrook Wealth Management LLC lifted its position in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its position in shares of QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Susquehanna raised their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Evercore ISI initiated coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. Cantor Fitzgerald increased their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, Barclays increased their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.86.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $2.36 during mid-day trading on Friday, hitting $165.66. 7,141,339 shares of the company were exchanged, compared to its average volume of 6,691,146. 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 stock has a 50 day simple moving average of $165.84 and a 200-day simple moving average of $144.47. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The firm has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 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. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

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.