Hourglass Capital LLC Buys 3,430 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hourglass Capital LLC increased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 15.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,915 shares of the wireless technology company’s stock after acquiring an additional 3,430 shares during the quarter. Hourglass Capital LLC’s holdings in QUALCOMM were worth $3,981,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp lifted its position in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in QUALCOMM by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after acquiring an additional 498,284 shares during the period. Van ECK Associates Corp boosted its position in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in QUALCOMM by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after purchasing an additional 110,828 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.0 %

QCOM stock opened at $172.23 on Friday. The company’s 50 day moving average is $163.13 and its 200 day moving average is $165.50. The stock has a market cap of $190.49 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth 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 Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued 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 predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,268 shares of company stock worth $7,785,781. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on QCOM shares. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Susquehanna reduced their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.