May Hill Capital LLC Takes $206,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

May Hill Capital LLC acquired a new position in QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,340 shares of the wireless technology company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last quarter. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $153.05 on Wednesday. The stock has a market capitalization of $169.27 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average of $163.66 and a two-hundred day moving average of $163.64. QUALCOMM Incorporated has a fifty-two week low of $147.88 and a fifty-two week high of $230.63. 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 posted 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 return on equity of 39.51% and a net margin of 25.94%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.22%. QUALCOMM’s payout ratio is presently 36.32%.

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.