Asset Planning Inc Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Asset Planning Inc bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,618 shares of the wireless technology company’s stock, valued at approximately $402,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the period. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after buying an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after buying an additional 1,380,500 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on QCOM shares. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $172.15 on Friday. QUALCOMM Incorporated has a twelve month low of $148.90 and a twelve month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $190.40 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The business has a 50 day simple moving average of $162.64 and a 200-day simple moving average of $165.50.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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, equities research analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current 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 given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

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.