Encompass More Asset Management Makes New $1.27 Million Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Encompass More Asset Management bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,240 shares of the wireless technology company’s stock, valued at approximately $1,266,000.

Several other hedge funds have also modified their holdings of the stock. Impact Partnership Wealth LLC boosted its position in QUALCOMM by 16.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 5,454 shares of the wireless technology company’s stock valued at $838,000 after buying an additional 775 shares during the last quarter. St. Johns Investment Management Company LLC boosted its holdings in QUALCOMM by 6.8% in the fourth quarter. St. Johns Investment Management Company LLC now owns 11,827 shares of the wireless technology company’s stock valued at $1,817,000 after acquiring an additional 751 shares during the last quarter. LexAurum Advisors LLC raised its holdings in QUALCOMM by 6.7% during the 4th quarter. LexAurum Advisors LLC now owns 2,081 shares of the wireless technology company’s stock worth $320,000 after purchasing an additional 130 shares during the last quarter. RFG Advisory LLC lifted its position in QUALCOMM by 10.5% during the 4th quarter. RFG Advisory LLC now owns 22,553 shares of the wireless technology company’s stock valued at $3,465,000 after purchasing an additional 2,146 shares during the period. Finally, MFA Wealth Services bought a new position in shares of QUALCOMM in the 4th quarter valued at about $457,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $172.40 on Friday. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The firm’s 50 day simple moving average is $159.05 and its 200 day simple moving average is $168.04. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $191.54 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. 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 37.82%.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now 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. In the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Barclays cut their price objective 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. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Evercore ISI upped their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.57.

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.