Smith Group Asset Management LLC Has $707,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Smith Group Asset Management LLC lifted its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 54.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,600 shares of the wireless technology company’s stock after acquiring an additional 1,620 shares during the quarter. Smith Group Asset Management LLC’s holdings in QUALCOMM were worth $707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp lifted its stake in 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 bought a new stake in shares of QUALCOMM during the 3rd quarter worth $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.0 %

Shares of QCOM opened at $171.19 on Wednesday. The business has a 50-day moving average of $159.76 and a 200 day moving average of $166.85. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $190.19 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

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

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Evercore ISI increased their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Susquehanna reduced their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.