QUALCOMM Incorporated (NASDAQ:QCOM) Shares Purchased by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC raised its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,347 shares of the wireless technology company’s stock after buying an additional 3,162 shares during the period. Clear Harbor Asset Management LLC’s holdings in QUALCOMM were worth $2,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new stake in QUALCOMM in the 3rd quarter valued at about $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in QUALCOMM during the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM opened at $164.56 on Tuesday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.75 and a beta of 1.25. The company has a fifty day simple moving average of $158.85 and a 200 day simple moving average of $168.57.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts expect that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on QCOM. Citigroup reduced their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.