North Forty Two & Co. Buys Shares of 5,261 QUALCOMM Incorporated (NASDAQ:QCOM)

North Forty Two & Co. bought a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,261 shares of the wireless technology company’s stock, valued at approximately $808,000.

Several other hedge funds have also recently made changes to their positions in QCOM. GLOBALT Investments LLC GA raised its stake in shares of QUALCOMM by 16.3% in the third quarter. GLOBALT Investments LLC GA now owns 1,396 shares of the wireless technology company’s stock valued at $237,000 after buying an additional 196 shares during the period. OneAscent Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter valued at $352,000. Caprock Group LLC raised its stake in shares of QUALCOMM by 7.7% in the third quarter. Caprock Group LLC now owns 33,407 shares of the wireless technology company’s stock valued at $5,681,000 after buying an additional 2,375 shares during the period. OneAscent Financial Services LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $422,000. Finally, Meeder Asset Management Inc. raised its stake in shares of QUALCOMM by 5.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 163,691 shares of the wireless technology company’s stock valued at $27,836,000 after purchasing an additional 8,788 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 1.1 %

Shares of QCOM stock opened at $156.29 on Wednesday. The stock has a market capitalization of $172.86 billion, a PE ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The business has a 50-day moving average of $164.56 and a 200 day moving average of $164.19. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued 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 net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share 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 issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of analyst reports. Piper Sandler decreased 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. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Melius initiated 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. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Finally, Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.