Acas LLC Takes $202,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Acas LLC acquired a new stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,400 shares of the wireless technology company’s stock, valued at approximately $202,000.

Several other large investors also recently made changes to their positions in QCOM. Harvest Fund Management Co. Ltd boosted its holdings in shares of QUALCOMM by 10.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 39,673 shares of the wireless technology company’s stock worth $5,741,000 after buying an additional 3,673 shares during the period. Schnieders Capital Management LLC boosted its holdings in shares of QUALCOMM by 5.3% during the fourth quarter. Schnieders Capital Management LLC now owns 9,069 shares of the wireless technology company’s stock worth $1,312,000 after purchasing an additional 460 shares during the period. Private Management Group Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $221,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $204,000. Finally, First National Bank Sioux Falls acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $230,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated 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 directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated 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 directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. In the last three months, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.40 during trading on Thursday, reaching $163.23. The company’s stock had a trading volume of 1,026,782 shares, compared to its average volume of 8,472,573. The stock has a 50-day moving average price of $165.43 and a two-hundred day moving average price of $143.97. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The stock has a market capitalization of $182.16 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.08%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is currently 46.38%.

Analyst Upgrades and Downgrades

Several analysts recently commented on QCOM shares. Barclays raised their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Finally, Cantor Fitzgerald raised their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

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.