Encompass More Asset Management Invests $1.27 Million in QUALCOMM Incorporated (NASDAQ:QCOM)

Encompass More Asset Management bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,240 shares of the wireless technology company’s stock, valued at approximately $1,266,000.

Several other large investors have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP purchased a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% during 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 in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the third quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM in the third quarter worth $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 1.1 %

Shares of NASDAQ:QCOM opened at $172.40 on Friday. The firm has a 50 day simple moving average of $159.05 and a 200 day simple moving average of $168.04. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The company has a market cap of $191.54 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on QCOM shares. Benchmark reissued a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

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.