QUALCOMM Incorporated (NASDAQ:QCOM) Position Increased by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 54.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,600 shares of the wireless technology company’s stock after purchasing an additional 1,620 shares during the quarter. Smith Group Asset Management LLC’s holdings in QUALCOMM were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of QUALCOMM in the 4th quarter valued at approximately $138,000. Twelve Points Wealth Management LLC boosted its holdings in shares of QUALCOMM by 4.3% during the 4th quarter. Twelve Points Wealth Management LLC now owns 13,950 shares of the wireless technology company’s stock worth $2,143,000 after buying an additional 569 shares during the period. Gateway Wealth Partners LLC grew its stake in QUALCOMM by 12.4% in the 4th quarter. Gateway Wealth Partners LLC now owns 2,335 shares of the wireless technology company’s stock valued at $359,000 after buying an additional 258 shares during the last quarter. Orca Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter worth $5,138,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in QUALCOMM by 14.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 27,760 shares of the wireless technology company’s stock valued at $4,265,000 after acquiring an additional 3,418 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were 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. This trade represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.0 %

Shares of NASDAQ QCOM opened at $171.19 on Wednesday. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The firm’s 50-day simple moving average is $159.76 and its 200 day simple moving average is $166.85. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a market cap of $190.19 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

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

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 37.82%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on QCOM shares. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI increased their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One equities 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.