15,018 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Acquired by Drum Hill Capital LLC

Drum Hill Capital LLC bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,018 shares of the wireless technology company’s stock, valued at approximately $2,307,000. QUALCOMM makes up about 2.9% of Drum Hill Capital LLC’s holdings, making the stock its 11th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Courier Capital LLC increased its stake in QUALCOMM by 14.6% in the 3rd quarter. Courier Capital LLC now owns 2,908 shares of the wireless technology company’s stock worth $495,000 after purchasing an additional 370 shares in the last quarter. McAdam LLC boosted its holdings in shares of QUALCOMM by 11.5% in the third quarter. McAdam LLC now owns 1,900 shares of the wireless technology company’s stock worth $323,000 after buying an additional 196 shares during the period. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares in the last quarter. YHB Investment Advisors Inc. raised its holdings in shares of QUALCOMM by 3.7% during the third quarter. YHB Investment Advisors Inc. now owns 2,365 shares of the wireless technology company’s stock valued at $402,000 after acquiring an additional 85 shares during the period. Finally, DT Investment Partners LLC lifted its position in shares of QUALCOMM by 4.2% in the 3rd quarter. DT Investment Partners LLC now owns 7,605 shares of the wireless technology company’s stock valued at $1,293,000 after acquiring an additional 307 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $165.43 on Friday. The firm has a market capitalization of $182.97 billion, a PE ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm’s fifty day simple moving average is $164.46 and its 200 day simple moving average is $165.72.

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

QUALCOMM Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QCOM. Susquehanna cut their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Sanford C. Bernstein upped their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler decreased their price target 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. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 over the last three months. 0.08% of the stock is currently owned by insiders.

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.