Jmac Enterprises LLC Boosts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Jmac Enterprises LLC increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,244 shares of the wireless technology company’s stock after buying an additional 737 shares during the period. Jmac Enterprises LLC’s holdings in QUALCOMM were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the period. Van ECK Associates Corp grew its position in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of QUALCOMM by 1.6% during the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after buying an additional 110,828 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.99 on Wednesday. The stock’s 50-day moving average price is $162.31 and its 200 day moving average price is $165.53. QUALCOMM Incorporated has a 52-week low of $148.41 and a 52-week high of $230.63. The stock has a market capitalization of $190.22 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock worth $7,276,381 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on QCOM. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Morgan Stanley dropped their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.