Marco Investment Management LLC Buys 1,632 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Marco Investment Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,185 shares of the wireless technology company’s stock after purchasing an additional 1,632 shares during the period. QUALCOMM accounts for approximately 2.6% of Marco Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. Marco Investment Management LLC’s holdings in QUALCOMM were worth $30,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $29,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research reports. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Evercore ISI reduced 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 note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Down 1.5 %

Shares of NASDAQ QCOM opened at $156.04 on Friday. The company has a 50 day simple moving average of $164.68 and a 200 day simple moving average of $165.23. The firm has a market cap of $172.58 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.18%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock worth $7,752,423 in the last quarter. 0.08% of the stock is owned by 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.