Colrain Capital LLC Purchases New Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Colrain Capital LLC purchased a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,500 shares of the wireless technology company’s stock, valued at approximately $2,996,000. QUALCOMM makes up about 2.9% of Colrain Capital LLC’s holdings, making the stock its 13th biggest position.

Several other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi raised its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of QUALCOMM in the fourth quarter worth $527,053,000. Geode Capital Management LLC lifted its stake in QUALCOMM by 7.9% during the 3rd 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 period. Finally, Two Sigma Advisers LP raised its stake in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 3.3 %

NASDAQ QCOM opened at $152.72 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s fifty day moving average is $164.16 and its 200-day moving average is $163.82. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The stock has a market capitalization of $168.91 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analysts Set New Price Targets

QCOM has been the subject of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. 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 research note on Tuesday, January 7th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last quarter. 0.08% of the stock is currently owned by insiders.

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.