IMS Capital Management Acquires 130 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

IMS Capital Management increased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,310 shares of the wireless technology company’s stock after acquiring an additional 130 shares during the quarter. IMS Capital Management’s holdings in QUALCOMM were worth $1,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the fourth quarter worth about $27,000. Planning Capital Management Corp increased its holdings in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 1.1 %

Shares of NASDAQ QCOM opened at $172.15 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average of $162.64 and a 200-day moving average of $165.50. The firm has a market capitalization of $190.40 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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. 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 1.98%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock worth $7,785,781 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley decreased their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, UBS Group upped 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 investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM 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.