Lee Danner & Bass Inc. Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Lee Danner & Bass Inc. acquired a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,742 shares of the wireless technology company’s stock, valued at approximately $268,000.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings 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 buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of QUALCOMM by 21.9% in 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 last quarter. FNY Investment Advisers LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $2,058,000. Burney Co. raised its holdings in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $156.82 on Friday. The firm has a 50 day moving average of $164.51 and a 200-day moving average of $163.98. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm has a market capitalization of $173.44 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given 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 dividend yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Activity

In related news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s 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 directly owns 20,762 shares in the company, 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. Over the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by company insiders.

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.