Panoramic Capital Partners LLC Invests $218,000 in QUALCOMM Incorporated (NASDAQ:QCOM)

Panoramic Capital Partners LLC bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,421 shares of the wireless technology company’s stock, valued at approximately $218,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Martin Capital Advisors LLP lifted its position in shares of QUALCOMM by 2.8% during the 3rd quarter. Martin Capital Advisors LLP now owns 3,621 shares of the wireless technology company’s stock worth $616,000 after buying an additional 99 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of QUALCOMM by 12.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,098 shares of the wireless technology company’s stock valued at $1,377,000 after acquiring an additional 895 shares during the period. Procyon Advisors LLC boosted its stake in shares of QUALCOMM by 3.2% in the 3rd quarter. Procyon Advisors LLC now owns 37,152 shares of the wireless technology company’s stock valued at $6,318,000 after purchasing an additional 1,160 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of QUALCOMM in the 3rd quarter worth about $741,000. Finally, Empirical Asset Management LLC increased its position in shares of QUALCOMM by 0.8% during the 3rd quarter. Empirical Asset Management LLC now owns 14,515 shares of the wireless technology company’s stock worth $2,468,000 after purchasing an additional 114 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $171.36 on Tuesday. QUALCOMM Incorporated has a 12 month low of $148.41 and a 12 month high of $230.63. The stock’s fifty day simple moving average is $162.15 and its 200 day simple moving average is $165.55. The company has a market capitalization of $189.52 billion, a PE ratio of 18.31, a PEG ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its 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%. On average, research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

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

Insiders Place Their Bets

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,268 shares of company stock worth $7,276,381. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCOM. Mizuho decreased their price objective 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. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.