Fusion Capital LLC Acquires 2,137 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fusion Capital LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 19,187 shares of the wireless technology company’s stock after purchasing an additional 2,137 shares during the period. QUALCOMM comprises approximately 1.2% of Fusion Capital LLC’s portfolio, making the stock its 26th largest holding. Fusion Capital LLC’s holdings in QUALCOMM were worth $2,948,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Nordea Investment Management AB increased its stake in shares of QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $240,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $154.44 on Friday. The business has a 50-day simple moving average of $164.85 and a two-hundred day simple moving average of $165.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $170.81 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week 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, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 2.20%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the business’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 of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by company 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.