Analyst IMS Investment Management Services Ltd. Grows Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Analyst IMS Investment Management Services Ltd. raised its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 58.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,416 shares of the wireless technology company’s stock after purchasing an additional 4,600 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in QUALCOMM were worth $1,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aptus Capital Advisors LLC grew its position in QUALCOMM by 33.1% during the third quarter. Aptus Capital Advisors LLC now owns 18,849 shares of the wireless technology company’s stock worth $3,205,000 after buying an additional 4,690 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in QUALCOMM by 124.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 92,544 shares of the wireless technology company’s stock valued at $15,737,000 after purchasing an additional 51,396 shares during the period. Cable Hill Partners LLC raised its stake in QUALCOMM by 46.0% in the third quarter. Cable Hill Partners LLC now owns 5,575 shares of the wireless technology company’s stock worth $948,000 after buying an additional 1,756 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of QUALCOMM by 7.1% in the 3rd quarter. Plato Investment Management Ltd now owns 36,998 shares of the wireless technology company’s stock worth $6,285,000 after acquiring an additional 2,449 shares in the last quarter. Finally, Peak Asset Management LLC boosted its position in shares of QUALCOMM by 24.9% during the third quarter. Peak Asset Management LLC now owns 6,491 shares of the wireless technology company’s stock valued at $1,104,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,555 shares of company stock worth $5,094,134 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Barclays reduced their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 0.6 %

QCOM stock opened at $151.94 on Friday. The business’s 50-day moving average price is $164.70 and its 200-day moving average price is $164.61. The stock has a market cap of $168.05 billion, a P/E ratio of 16.23, a PEG ratio of 2.01 and a beta of 1.28. 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 Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts forecast 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. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

QUALCOMM 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.