Assetmark Inc. Purchases 292,174 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Assetmark Inc. boosted its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 106.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 565,375 shares of the wireless technology company’s stock after purchasing an additional 292,174 shares during the period. Assetmark Inc. owned about 0.05% of QUALCOMM worth $86,853,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp boosted its position in shares of QUALCOMM by 78.1% during the fourth quarter. J.Safra Asset Management Corp now owns 2,127 shares of the wireless technology company’s stock valued at $329,000 after buying an additional 933 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in QUALCOMM during the 4th quarter valued at $647,000. Triad Wealth Partners LLC bought a new position in QUALCOMM in the 4th quarter valued at $515,000. Victory Capital Management Inc. increased its stake in QUALCOMM by 10.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,083,403 shares of the wireless technology company’s stock worth $320,052,000 after purchasing an additional 197,189 shares during the period. Finally, Keybank National Association OH lifted its position in shares of QUALCOMM by 3.8% during the fourth quarter. Keybank National Association OH now owns 164,261 shares of the wireless technology company’s stock worth $25,234,000 after purchasing an additional 6,069 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.5 %

Shares of NASDAQ:QCOM opened at $154.46 on Wednesday. The business’s 50-day moving average is $164.75 and its 200 day moving average is $165.34. 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 Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a market capitalization of $170.83 billion, a P/E ratio of 16.50, a P/E/G 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 earnings per share (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%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.20%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction 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 $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,045 shares of company stock valued at $8,237,043 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM 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.