Counterpoint Mutual Funds LLC Takes $400,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Counterpoint Mutual Funds LLC purchased a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,606 shares of the wireless technology company’s stock, valued at approximately $400,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after acquiring an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $2,058,000. Burney Co. lifted its position in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $157.95 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $174.69 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.01 and a beta of 1.28. The firm’s 50 day moving average is $164.64 and its two-hundred day moving average is $164.32. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given 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 dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on QCOM shares. Piper Sandler decreased 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. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. 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 company. Based on data from MarketBeat, QUALCOMM presently has a consensus 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.