1,529 Shares in QUALCOMM Incorporated (NASDAQ:QCOM) Bought by Private Management Group Inc.

Private Management Group Inc. bought a new position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,529 shares of the wireless technology company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cutter & CO Brokerage Inc. purchased a new position in QUALCOMM during the 4th quarter worth $204,000. First National Bank Sioux Falls purchased a new position in QUALCOMM during the 4th quarter worth $230,000. GAMMA Investing LLC purchased a new position in QUALCOMM during the 4th quarter worth $873,000. Linden Thomas Advisory Services LLC grew its stake in QUALCOMM by 16.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,147 shares of the wireless technology company’s stock worth $1,612,000 after buying an additional 1,567 shares during the last quarter. Finally, Masso Torrence Wealth Management Inc. grew its stake in QUALCOMM by 12.2% during the 4th quarter. Masso Torrence Wealth Management Inc. now owns 6,701 shares of the wireless technology company’s stock worth $969,000 after buying an additional 730 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Barclays boosted their price target on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Susquehanna boosted their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald boosted their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Price Performance

NASDAQ QCOM traded up $2.28 during trading hours on Wednesday, reaching $163.63. The company’s stock had a trading volume of 6,048,149 shares, compared to its average volume of 8,539,485. The firm has a market capitalization of $182.61 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.20 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company’s 50-day moving average is $165.24 and its two-hundred day moving average is $143.83.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

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.