Harvest Fund Management Co. Ltd Has $22.88 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Harvest Fund Management Co. Ltd boosted its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 104.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,131 shares of the wireless technology company’s stock after purchasing an additional 76,014 shares during the period. QUALCOMM comprises approximately 1.1% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 14th biggest position. Harvest Fund Management Co. Ltd’s holdings in QUALCOMM were worth $22,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $29,000. Synergy Asset Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM during the 3rd quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.29 on Wednesday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company’s 50 day moving average price is $164.56 and its two-hundred day moving average price is $164.19. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $172.86 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays decreased 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. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last quarter. Insiders own 0.08% of the company’s stock.

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.