Bell Asset Management Ltd Raises Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bell Asset Management Ltd grew its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 70,651 shares of the wireless technology company’s stock after buying an additional 5,576 shares during the quarter. QUALCOMM accounts for about 2.0% of Bell Asset Management Ltd’s portfolio, making the stock its 12th biggest position. Bell Asset Management Ltd’s holdings in QUALCOMM were worth $10,853,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QUALCOMM stock opened at $127.46 on Monday. QUALCOMM Incorporated has a 52-week low of $123.11 and a 52-week 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. The firm’s fifty day moving average is $161.74 and its 200 day moving average is $163.05. The company has a market cap of $140.97 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced 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 net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.