Fisher Funds Management LTD Makes New Investment in QUALCOMM Incorporated (NASDAQ:QCOM)

Fisher Funds Management LTD purchased a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 106,845 shares of the wireless technology company’s stock, valued at approximately $16,447,000.

A number of other hedge funds also recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp increased its position 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 buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,708 shares of company stock valued at $7,713,734. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $165.43 on Friday. 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 company has a fifty day moving average price of $164.46 and a 200-day moving average price of $165.77. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a market cap of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued 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 yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analysts Set New Price Targets

A number of brokerages have weighed in on QCOM. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.