SP Asset Management LLC Acquires 236 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SP Asset Management LLC grew its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,087 shares of the wireless technology company’s stock after acquiring an additional 236 shares during the period. QUALCOMM comprises approximately 2.1% of SP Asset Management LLC’s holdings, making the stock its 13th largest position. SP Asset Management LLC’s holdings in QUALCOMM were worth $24,746,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. ASB Consultores LLC boosted its holdings in QUALCOMM by 15.1% in the 3rd quarter. ASB Consultores LLC now owns 1,484 shares of the wireless technology company’s stock worth $252,000 after buying an additional 195 shares during the period. United Advisor Group LLC bought a new position in QUALCOMM in the 3rd quarter worth $393,000. HMS Capital Management LLC boosted its holdings in QUALCOMM by 1.2% in the 3rd quarter. HMS Capital Management LLC now owns 10,127 shares of the wireless technology company’s stock worth $1,722,000 after buying an additional 121 shares during the period. Hixon Zuercher LLC boosted its holdings in QUALCOMM by 4.1% in the 3rd quarter. Hixon Zuercher LLC now owns 7,053 shares of the wireless technology company’s stock worth $1,199,000 after buying an additional 277 shares during the period. Finally, Beacon Financial Advisory LLC boosted its holdings in shares of QUALCOMM by 2.3% during the 3rd quarter. Beacon Financial Advisory LLC now owns 4,048 shares of the wireless technology company’s stock valued at $688,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on QCOM shares. Morgan Stanley dropped their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other news, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,045 shares of company stock worth $7,752,423. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $158.49 on Thursday. The firm has a market cap of $175.29 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm’s 50 day simple moving average is $164.73 and its 200-day simple moving average is $165.29. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its 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%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 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.