QUALCOMM Incorporated (NASDAQ:QCOM) Shares Bought by SP Asset Management LLC

SP Asset Management LLC grew its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 161,087 shares of the wireless technology company’s stock after buying an additional 236 shares during the period. QUALCOMM makes up 2.1% of SP Asset Management LLC’s investment portfolio, making the stock its 13th largest position. SP Asset Management LLC’s holdings in QUALCOMM were worth $24,746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $29,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying 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. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.6 %

Shares of NASDAQ QCOM opened at $158.49 on Thursday. The firm has a market cap of $175.29 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company’s 50-day simple moving average is $164.73 and its 200-day simple moving average is $165.29. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on QCOM. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is 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.