Miramar Capital LLC Acquires Shares of 57,729 QUALCOMM Incorporated (NASDAQ:QCOM)

Miramar Capital LLC acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 57,729 shares of the wireless technology company’s stock, valued at approximately $8,868,000. QUALCOMM makes up approximately 2.1% of Miramar Capital LLC’s portfolio, making the stock its 27th biggest position.

Other large investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Planning Capital Management Corp grew 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 in the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on QCOM. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $161.22 on Friday. The business’s 50-day moving average price is $164.76 and its 200 day moving average price is $165.09. The firm has a market cap of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

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.