Dividend Assets Capital LLC Purchases 3,001 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Dividend Assets Capital LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,768 shares of the wireless technology company’s stock after acquiring an additional 3,001 shares during the period. QUALCOMM accounts for approximately 2.6% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 10th biggest holding. Dividend Assets Capital LLC’s holdings in QUALCOMM were worth $13,176,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in QCOM. Nordea Investment Management AB boosted its stake in QUALCOMM by 39.7% during 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 acquiring an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of QUALCOMM by 21.9% during 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 purchasing an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. grew its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $240,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on QCOM. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Susquehanna cut 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. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Loop Capital began coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, UBS Group lifted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $165.43 on Friday. The company’s 50 day moving average is $164.46 and its 200-day moving average is $165.72. The firm has a market cap of $182.97 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last posted its 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%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 over the last ninety days. Company 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.