Northstar Group Inc. Makes New $275,000 Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Northstar Group Inc. purchased a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,793 shares of the wireless technology company’s stock, valued at approximately $275,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $27,000. Planning Capital Management Corp grew its holdings in shares of 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 purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $38,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 0.8 %

QCOM opened at $167.96 on Friday. The business has a fifty day moving average price of $161.96 and a 200 day moving average price of $166.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. QUALCOMM Incorporated has a 12 month low of $146.29 and a 12 month high of $230.63. The stock has a market capitalization of $185.76 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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 Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QCOM. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock worth $4,000,870 over the last 90 days. 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.