Cookson Peirce & Co. Inc. Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cookson Peirce & Co. Inc. acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, Holdings Channel reports. The firm acquired 4,210 shares of the wireless technology company’s stock, valued at approximately $647,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ASB Consultores LLC lifted its holdings in shares of QUALCOMM by 15.1% in the third quarter. ASB Consultores LLC now owns 1,484 shares of the wireless technology company’s stock valued at $252,000 after purchasing an additional 195 shares in the last quarter. United Advisor Group LLC purchased a new stake in QUALCOMM in the 3rd quarter valued at approximately $393,000. HMS Capital Management LLC grew its holdings in QUALCOMM by 1.2% during the 3rd quarter. HMS Capital Management LLC now owns 10,127 shares of the wireless technology company’s stock valued at $1,722,000 after buying an additional 121 shares during the last quarter. Hixon Zuercher LLC increased its position in QUALCOMM by 4.1% during the third quarter. Hixon Zuercher LLC now owns 7,053 shares of the wireless technology company’s stock worth $1,199,000 after buying an additional 277 shares in the last quarter. Finally, Beacon Financial Advisory LLC raised its holdings in shares of QUALCOMM by 2.3% in the third quarter. Beacon Financial Advisory LLC now owns 4,048 shares of the wireless technology company’s stock worth $688,000 after acquiring an additional 91 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Morgan Stanley decreased their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $205.32.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s 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. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock valued at $7,752,423 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.6 %

NASDAQ QCOM opened at $158.49 on Thursday. The stock has a market cap of $175.29 billion, a PE ratio of 16.93, a P/E/G ratio of 2.01 and a beta of 1.25. The business has a 50 day moving average price of $164.73 and a two-hundred day moving average price of $165.29. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.